Wednesday, 24 September 2014
Last updated 14 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.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.