Galleon Insider Trading Case and Moffat's Sexual Relationship -- or not?
Moffat's Explanation. Nietzsche's Point About Memory
It used to be sex, drugs, and rock 'n roll -- now it's sex, drugs, rock 'n roll, politics and Wall Street. For some reason, a lot of folks just get hung up about that sex thing. For example, consider the recent revelations about Robert Moffat, Jr., the former IBM vice President who was snared in the ongoing Galleon insider trading case.
In a press release from the United States Attorney for the Southern District of New York: we were told in matter-of-fact style that:
From August to October 2008, MOFFAT engaged in an insider trading scheme in which MOFFAT obtained material,nonpublic information ("Inside Information") relating to IBM, Advanced Micro Devices, Inc. ("AMD") and Lenovo Group Ltd.("Lenovo"), and provided it to DANIELLE CHIESI, a friend who worked during the relevant time period for New Castle Partners,an equity hedge fund group affiliated with JP Morgan Chase & Co. At the time of the conspiracy, MOFFAT was a Senior Vice President and Group Executive in IBM's Systems and Technology Group. In addition, MOFFAT also served as a non-voting member of Lenovo's Board of Directors.
Fortune magazine just published a compelling article: Dangerous Liaisons at IBM: Inside the Biggest Hedge Fund Insider-Trading Ring , which details Moffat's descent into the criminal conduct of insider trading and presents us with a nuanced glimpse into his personal life -- which includes his wife dealing with multiple sclerosis and a sexual relationship with Danielle Chiesi that began in 2003. Except, well, if you believe Moffat, it wasn't really a sexual relationship -- it wasn't really about sex. No...not really.
Read Bill Singer's Complete Article At: