Chiesi's Former Boss Settles SEC Suit

Feb 1 2011 | 12:59pm ET

Mark Kurland, who is serving more than two years in prison for his role in the Galleon Group insider-trading case, has settled with the Securities and Exchange Commission.

The former head of hedge fund New Castle Partners will pay $4.4 million to end the civil case against him, a total which includes ill-gotten gains and interest. The SEC also agreed to drop its lawsuit against the now-defunct New Castle.

Kurland had previously been ordered to forfeit $900,000.

Kurland was the boss and, it turned out, lover of Danielle Chiesi, the former co-defendant of Galleon founder Raj Rajaratnam. Chiesi herself pleaded guilty last month; Kurland entered his guilty plea last January.

Rajaratnam goes on trial at the end of the month.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of