Saturday, 23 August 2014
Last updated 21 hours ago
Jul 14 2011 | 2:28am ET
Danielle Chiesi, the former New Castle Partners executive and one-time co-defendant of Galleon Group founder Raj Rajaratnam, has settled Securities and Exchange Commission insider-trading charges against her.
Chiesi, possibly the most colorful character among the dozens arrested in the Galleon insider-trading scandal, will pay more than $540,000. The settlement was approved by U.S. District Judge Jed Rakoff, who is overseeing the civil cases stemming from the Galleon fraud.
In addition, Chiesi agreed not to violate SEC rules against fraudulent or deceptive practices.
Chiesi, who once vowed that she wouldn't spend a day in jail, faces almost four years in prison when she is sentenced later this month. She pleaded guilty to insider-trading charges in January, avoiding a trial with Rajaratnam, with whom she allegedly traded confidential tips. Chiesi blamed her affair with New Castle founder Mark Kurland, who also pleaded guilty in the case, for her participating.
Chiesi did not testify against Rajaratnam, who was convicted of insider-trading in May. But her flirtatious phone calls with Rajaratnam were played for the jury.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note