Robert Moffat Indcited With The Charges Of Inside Trading
October 17th, 2009 - 6:37 pm ICT by GD ( 1 comment )By Gina Gomez
Oct. 17, (THAINDIAN NEWS) News on the IBM front has been intensifying considerably as reports flood the net, regarding the arrest of one of its senior executive. According to what has been put forth in the reports, it appears that one of the executives of the leading IT giant has been indicted with the charges of being involved in insider trading.
53 year old Robert Moffat was involved in the matters of over seeing the company’s operation in the East Fishkill and Poughkeepsie regions has been named as one of the people to be involved in the insider trading racket that has come to the fore front recently. He has been arrested on Friday.
Moffat is a resident of Ridgefield, Conn. and has been a long standing senior executive at the systems and Technology Group of IBM. He had been serving in the company as a senior vice president and group executive for long. Which is what makes the issue all the more sensational.
According to the federal prosecutors, Moffat’s name is also among few others in the racket who had secured as much as $20 million that had amounted from insider profits. There are five others besides him who have been arrested by the authorities, the names of who have shocked media and public together. Galleon Group founder Raj Rajaratnam [who is one of the wealthiest man in the country], Danielle Chiesi, Anil Kumar, Rajiv Goel and Mark Kurland are the other besides Moffat, who have been arrested.
The respective companies that these people are involved with have cited that they were completely unaware of their employee’s misdealing. As the names related to the case are high profile, the issue is receiving a wide media coverage.
- Indian American executive tipped Rajaratnam for 5 years - Mar 15, 2011
- Galleon Group Founder Raj Rajaratnam Charged For Insider Trading - Oct 17, 2009
- Rajaratnam's insider scheme twice as large as suspected - Jan 07, 2010
- Former IBM senior executive pleaded guilty to revealing company information for an illegal transactions - Mar 30, 2010
- Former IBM Exec Robert Moffat Sentenced to 6 Months, $50,000 Fines - Sep 14, 2010
- Former IBM executive Robert Moffat jailed for 6 months for 'insider trading' - Sep 14, 2010
- Rajaratnam made $63.8 mn through inside trading - Apr 07, 2011
- Ex-Goldman Sachs director Gupta arrested, charged in insider trading case - Oct 26, 2011
- Rajaratnam used Indian-American 'corporate spies': Prosecution - Apr 21, 2011
- Indian American star witness denies he was paid to get India business - Mar 17, 2011
- 'Rajaratnam relied on public information, not tips' - Apr 01, 2011
- Rajaratnam's lawyers rest case, prosecutors end with new wiretap - Apr 19, 2011
- Rajaratnam faces new charges in Goldman Sachs 'fraud' - Apr 17, 2010
- Former Goldman director Rajat Gupta charged in US insider case - Mar 02, 2011
- Rajaratnam's lawyers grill star Indian American witness - Mar 16, 2011
Tags: anil kumar, conn, east fishkill, federal prosecutors, galleon, gina gomez, goel, group executive, group founder, high profile, insider profits, insider trading, kurland, media coverage, poughkeepsie, raj rajaratnam, rajiv, robert moffat, senior vice president, technology group
October 19th, 2009 at 8:11 pm
Gina, I know that English is not your first language so I’m not trying to be insulting but honestly, the gaffes you make are ridiculous. Find a native English speaker to proof-read your writing. Otherwise it compromises the integrity of your entire news service and makes you look like fools.