{"id":15801,"date":"2010-05-24T07:12:00","date_gmt":"2010-05-24T11:12:00","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=15801"},"modified":"2010-05-24T07:17:11","modified_gmt":"2010-05-24T11:17:11","slug":"2-year-sentence-in-galleon-hedge-fund-insider-trading","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2010\/2-year-sentence-in-galleon-hedge-fund-insider-trading.html","title":{"rendered":"2 Year Sentence in Galleon Hedge Fund Insider Trading Case"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/mark_kurland-300x300.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-15802\" title=\"Mark Kurland\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/mark_kurland-300x300-300x300.jpg\" alt=\"\" width=\"147\" height=\"147\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/mark_kurland-300x300-300x300.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/mark_kurland-300x300-150x150.jpg 150w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/mark_kurland-300x300.jpg 320w\" sizes=\"auto, (max-width: 147px) 100vw, 147px\" \/><\/a>New York (HedgeCo.net) &#8211; The Wall Street Journal reports that Mark Kurland, former partner at hedge fund New Castle Funds LLC was sentenced to over two years in prison (27 months). Kurland pled guilty to insider trading in January with connections to the Galleon\/Rajaratnam case.<\/p>\n<p>The insider trading case involves the employees of some of America\u2019s best-known companies, including International Business Machines Corp, McKinsey &amp; Co and Intel Capital, an arm of Intel Corp, and Danielle Chiesi, an executive at New Castle Funds LLC was also indicted on multiple counts of conspiracy and securities fraud.<\/p>\n<p>At a hearing Friday, Judge Victor Marrero said, &#8220;He had a choice. As a leader of the financial industry, he could have led by law-abiding example. Instead, he chose to follow,&#8221; the judge also said, according to WSJ, that Kurland surrendered &#8220;to a spree of the financial market&#8217;s virtual mob mentality that nearly brought down this country&#8217;s financial industry in the quest for ever bigger and faster gains.&#8221;<\/p>\n<p>The judge also ordered a forfeit of $900,000 in proceeds from the alleged scheme, the Journal reported. Kurland reports to prison on July 23.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; The Wall Street Journal reports that Mark Kurland, former partner at hedge fund New Castle Funds LLC was sentenced to over two years in prison (27 months). Kurland pled guilty to insider trading in January with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-15801","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/15801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=15801"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/15801\/revisions"}],"predecessor-version":[{"id":15806,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/15801\/revisions\/15806"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=15801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=15801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=15801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}