Raj Rajaratnam, the Galleon Group LLC co-founder whom prosecutors called “the modern face of illegal insider trading,” was sentenced to 11 years in prison, one of the longest terms ever for insider trading, though less than half of the maximum sought by the government.
Advanced Micro Devices Inc.’s former Chief Executive Officer Hector Ruiz has opened a consulting company, aiming to win business by touting his experience in leading strategy and transactions while at the chipmaker.
Galleon Group LLC co-founder Raj Rajaratnam’s lawyer accused U.S. prosecutors of living in a “make-believe” and “imaginary world” where publicly available information about pending deals “didn’t exist.”
Anil Kumar , a former director at McKinsey & Co., said Raj Rajaratnam told him the value of his inside information to Galleon Group LLC was “diminished” because trader Danielle Chiesi 's “intimate relationship” with the head of Advanced Micro Devices Inc. made her tips more valuable.
Advanced Micro Devices Inc., expected to report its largest annual profit this year since 2000, may find its improving results overshadowed by the lack of progress in finding a new chief executive officer.
The lawyer for Galleon Group LLC co-founder Raj Rajaratnam accused U.S. prosecutors of living in a “make-believe” and “imaginary world” where publicly available information about pending deals “didn’t exist.”