8 Trades the Insiders Allegedly Made
by Michael Copeland
Monday, October 19, 2009 provided by
The government's case against the Galleon crew includes transactions in companies like Google, AMD, Hilton and Sun.
The government's case in what it is calling the largest insider trading case involving a U.S. hedge fund contains a detailed list of trades involving household-name companies.
Investigators have pieced together a case that alleges more than $25 million in illegal gains based on trading in 2006-09 on companies including Advanced Micro Devices (AMD), Akamai (AKAM), Clearwire (CLWR), Google (GOOG), Hilton, Polycom (PLCM) and Sun Microsystems (JAVA), among others.
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Accused Inside Trader Is Bear Stearns Alumni
As the fraud trial of two former hedge-fund managers from Bear gets underway, the former head of their division gets arrested in the Galleon insider-trading scandal
NEW YORK (Fortune) -- The $20 million insider-trading ring that the U.S. government alleges was masterminded by billionaire hedge-fund manager Raj Rajaratnam also included two former Bear Stearns hedge-fund managers. According to two federal complaints, two of Rajaratnam's partners in the alleged crimes were Mark Kurland, of Mount Kisco, N.Y., and Danielle Chiesi of New York City. Both Kurland, 60, and Chiesi, 43, were arrested last week, along with Rajaratnam, and charged with insider trading. Bail for Kurland was set at $3 million and for Chiesi at $2 million (Rajaratnam's was set at $100 million).
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