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.
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.
Danielle Chiesi told Raj Rajaratnam , the Galleon Group LLC co-founder on trial for insider trading, that she “played” a friend “like a finely tuned piano” after getting a tip Akamai Technologies Inc. would lower its forecast.
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.
In the 1955 movie “Rebel Without a Cause,” a popular high school bully goads a disaffected outsider (James Dean) into a contest of nerves. A variant of “chicken,” it’s a car race to be won by whomever brakes last as the two teenagers speed in the dark toward a cliff, Natalie Wood urging them on.