Danielle Chiesi arrested for insider stock trading

Ad ID: 26630
Date Posted: 2009-12-20
Transaction type: Offering / Selling / For Sale
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A federal grand jury has indicted the Galleon Group hedge fund's Raj Rajaratnam and Danielle Chiesi on charges of insider trading.

Chiesi was a former teenage beauty queen turned analyst who worked at New Castle Funds LLC. Evidence suggests that her communication with insider sources at Akamai, AMD, IBM, and Sun Microsystems, among other high-tech companies allowed the hedge fund she worked for to place stock trades that resulted in very big profits in a short period of time and were phenomenal in their timing.

More on Bloomberg: http://www.bloomberg.com/apps/news?pid=20601109&sid=apTuckYhnYYU

Sample quotes from http://www.reuters.com/article/idUSTRE59F5CG20091016

Akamai executive: "Danielle, I have a major present for you."
Akamai executive: "Information".
Chiesi: "Well that, that is a great present."


Chiesi: "Akamai.... I'm trading the stock tomorrow.. They're going to guide down. ... then he said people think that the stock price is going to go to 25 dollars per share. They print the share information on Wednesday."
Rajaratnam: "You got a few more days, Friday, Monday ..."
Chiesi: "Just keep shorting on the stock market every day. We got a lot of days."
Chiesi on the AMD stock trades: "I don't want anybody else to make money on this stock but us..."


Danielle Chesi Photos, Danielle Chiesi Pictures, Then and Now at BusinessInsider.com

http://www.businessinsider.com/danielle-chesi-then-and-now-2009-12
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