Insider-Trader Chiesi Reports To ‘Camp Cupcake’

Oct 18 2011 | 8:27am ET

Danielle Chiesi, the former hedge fund executive and convicted insider trader, arrives at Federal Prison Camp Alderson—‘Camp Cupcake’—today to begin serving her 30-month sentence.

Chiesi pled guilty to passing illegal stock tips to hedge fund billionaire Raj Rajaratnam, who last week was sentenced to 11 years in federal prison. Both convictions were part of the biggest U.S. insider-trading case of all time, one that unraveled two interlocking rings within Rajaratnam’s multi-billion dollar Galleon Group.

Chiesi’s home for the next two-and-a-half years, situated in the foothills of the Allegheny Mountains, was modeled after the campus of Pennsylvania’s Bucknell University and has none of the usual trappings of a federal prison (barbed wire, fences, guard towers).

Alderson was the first women’s prison in the U.S., opened in 1927, and its higher-profile inmates have included Martha Stewart, Billie Holiday and Charles Manson follower (and would-be presidential assassin) Lynette “Squeaky” Fromme.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...


FINalternatives Trending

From the current issue of