Mark Kurland , a co-founder of New Castle Funds LLC, was ordered to serve 27 months in prison after pleading guilty in the Galleon Group LLC insider-trading case, becoming the first defendant in the scheme to be sentenced.
Mark Kurland , a co-founder of New Castle Funds LLC, asked a judge to give him probation when he becomes the first defendant sentenced in the Galleon Group LLC insider-trading case that snared Raj Rajaratnam .
Steven Fortuna, a hedge-fund manager who pleaded guilty and assisted in the insider-trading probe of Galleon Group LLC and other federal investigations, was sentenced to two years’ probation and six months’ home confinement.
Danielle Chiesi, the former New Castle Funds LLC analyst sentenced to 2-1/2 years in prison after pleading guilty to passing inside stock tips to Galleon Group LLC co-founder Raj Rajaratnam, must surrender to begin her prison term on Sept. 20, a federal judge ruled.
A federal appeals court blocked a demand by the Securities and Exchange Commission for wiretaps from the insider-trading prosecution of Galleon Group co-founder Raj Rajaratnam for use in its related civil suit.
Danielle Chiesi , the former New Castle Funds LLC consultant charged with passing inside information to Galleon Group LLC co-founder Raj Rajaratnam and others, pleaded guilty in federal court in New York.
Raj Rajaratnam, co-founder of the Galleon Group LLC hedge fund, is at the center of the largest U.S. crackdown on hedge-fund insider trading in U.S. history. His trial begins March 8 in federal court in Manhattan, where his friends and former associates may testify against him.