Tuesday, 30 September 2014
Last updated 1 hour ago
Jun 14 2011 | 1:32pm ET
Danielle Chiesi once pledged that she'd never spend a day in jail. Now, the former New Castle Partners executive would happily settle for anything under two years in the clink.
Lawyers for Chiesi, who pleaded guilty to insider-trading in January, asked that she receive a shorter sentence than her former boss and lover, Mark Kurland, who was sentenced to 27 months last year. Prosecutors have countered that Chiesi should get up to 46 months on the three counts of conspiracy.
"The dozens of recorded conversations between Ms. Chiesi and Mr. Kurland are replete with examples of Kurland encouraging her to get information, of Kurland belittling her ability to analyze financial data, or Kurland being the New Castle decisionmaker regarding investment decisions," lawyer Alan Kaufman wrote.
"We think it is self-evident—and can only hope that the court agrees—that the punishment due for the conduct at issue here should be mitigated once it is recognized as the manifestation of the psychological and emotional forces impacting on Danielle Chiesi, rather than the result of greed and venality," he continued.
Chiesi's boyfried, identified only as Billy, further accused Kurland of engaging in a "vicious cycle of abuse" and "psychological exploitation" to make Chiesi his "virtual servant."
Chiesi was originally to be the co-defendant of Galleon Group founder Raj Rajaratnam. While she did not take the stand in that trial, her flirtatious phone calls with Rajaratnam were played for the jury, which convicted the former billionaire last month.
Chiesi is set to be sentenced on June 30.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...