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Information Technology News IBM, Intel execs arrested in insider trading scheme
Information Technology News IBM, Intel execs arrested in insider trading scheme | IBM, Intel execs arrested in insider trading scheme |
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| by Jake Widman | |
| Saturday, 17 October 2009 | |
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- Raj Rajaratnam, a partner in hedge fund advisors Galleon Management and listed by Forbes as the 559th wealthiest person in the world; - Rajiv Goel, a managing director of strategic investments at Intel Capital, Intel's investment group; - Robert Moffat, a senior vice president at IBM's Systems and Technology Group; - Anil Kumar, a director at consulting firm McKinsey & Co.; - Mark Kurland, an executive at hedge fund New Castle; - and Danielle Chiesi, a portfolio manager at New Castle. In addition to the six individuals, Galleon Management and New Castle themselves are also included in the complaint. The SEC announcement gave four examples of how the scheme played out. In one, an unnamed source allegedly provided Rajaratnam with inside information about earnings announcements at Google, among other firms. For more on the insider trading bust, see Page 2. |
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