Galleon Informant Sentenced to 27 Months in the Big House

Mark Kurland, Danielle Chiesi’s partner at New Castle Funds who pleaded guilty to insider trading in Galleon Group case, just got slapped with a 27-month prison sentence and a $900,000 fine for participating in the alleged scheme.
Author:
Publish date:
Updated on

Mark Kurland, Danielle Chiesi’s partner at New Castle Funds who pleaded guilty to insider trading in Galleon Group case, just got slapped with a 27-month prison sentence and a $900,000 fine for participating in the alleged scheme.

Kurland, 61, had argued for probation saying his life had already been ruined by the insider trading charges. "Regardless of his sentence, Mark's legacy is forever ruined. He can no longer work in the profession he loved and thrived in," his lawyer said.

Meanwhile, Robert Moffat, the IBM exec who also pleaded guilty to securities fraud and conspiracy in the Galleon case in March, had an “intimate relationship” with Chiesi and, therefore, should get a shorter sentence than Kurland, prosecutors said at a hearing today.

Earlier: Former IBM Exec Bob Moffatt Had A Really Good Excuse For Passing Inside Info To Danielle Chiesi

Related

News

Letter Reveals More Names in Galleon Case

Roomy Khan, one of the key cooperating witnesses in the Galleon insider trading case, used her extensive rolodex of insiders to gain access to secret market-moving information. Recently released court documents show that list of contacts could be longer than we thought.

News

Justice Department Probes Leaks in Galleon Case

Looks like Raj Rajaratnam’s complaints about leaks coming out the Justice Department on the Galleon case have not fallen on deaf ears. Raj’s attorney’s announced today that they have been informed by The DOJ’s Office of Professional Responsibility that it has opened an investigation into alleged leaks by the FBI and the U.S. Attorney’s office to the Wall Street Journal and other news outlets.