{"id":17717,"date":"2010-09-14T07:45:14","date_gmt":"2010-09-14T11:45:14","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=17717"},"modified":"2010-09-14T07:55:57","modified_gmt":"2010-09-14T11:55:57","slug":"6-months-inside-for-robert-moffat-in-hedge-fund-insider-trading-ring","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2010\/6-months-inside-for-robert-moffat-in-hedge-fund-insider-trading-ring.html","title":{"rendered":"6 Months Inside For Robert Moffat in Hedge Fund Insider Trading Ring"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/four-shot-rajaratnam600-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-17719\" title=\"Hedge fund fraud\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/four-shot-rajaratnam600-1-300x202.jpg\" alt=\"\" width=\"300\" height=\"202\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/four-shot-rajaratnam600-1-300x202.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/four-shot-rajaratnam600-1.jpg 335w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.net) &#8211; Former IBM vice president Robert Moffat was sentenced to six months in prison in the Rajaratnam\/Chiesi hedge fund insider trading case, the Courthouse News Services  reported this morning. Judge Deborah Batts additionally fined Moffat $50,000.<\/p>\n<p>&#8220;White-collar crime is just as destructive to our social fabric as the crimes of drugs and violence,&#8221; the Judge said in handing down the sentence. Moffat&#8217;s conspiracy count carries a maximum sentence of five years in prison and a maximum fine of $250,000. His securities fraud count carries a maximum sentence of 20 years in prison and a fine of $5 million.<\/p>\n<p>Moffat pleaded guilty in March to conspiracy and securities fraud stemming from his involvement in the largest US hedge fund insider trading case in history.<\/p>\n<p>The court documents reveal that in September 2008, Moffat provided Chiesi with  insider information in August to October 2008, relating to IBM and Lenovo Group Ltd.<\/p>\n<p>Moffat confessed to providing the insider information to to Danielle Chiesi, Rajaratnam&#8217;s co-defendant. She worked for New Castle Partners, an equity hedge fund group affiliated with JPMorgan Chase &amp; Co.<\/p>\n<p>Moffat said he did not use the information to make money, but that he passed it along to Chiesi through &#8220;misplaced trust&#8221; and &#8220;a misguided desire to appear important and knowledgeable.&#8221; the Courthouse News Services said.<\/p>\n<p>Chiesi, along with Sri Lankan billionaire Raj Rajaratnam, are scheduled for trial in 2011.<\/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; Former IBM vice president Robert Moffat was sentenced to six months in prison in the Rajaratnam\/Chiesi hedge fund insider trading case, the Courthouse News Services reported this morning. Judge Deborah Batts additionally fined Moffat $50,000. &#8220;White-collar [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,11,3],"tags":[],"class_list":["post-17717","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17717","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=17717"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17717\/revisions"}],"predecessor-version":[{"id":17720,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17717\/revisions\/17720"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=17717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=17717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=17717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}