Robert Moffat, Former IBM Exec, Gets Six Months in Galleon Case

Robert Moffat, a former executive at International Business Machines (IBM), was sentenced Monday to a six-month prison term and a $50,000 fine for his role in the Galleon hedge fund insider-trading case, according to media reports.

Moffat, once considered a possible candidate for chief executive at Big Blue, pleaded guilty to securities fraud and conspiracy to commit securities fraud earlier this year after being nabbed in the Galleon probe in Oct. 2009.

Moffat's defense claimed he had been manipulated by Danielle Chiesi, a trader with whom he was having an extra-marital affair. Chiesi pleaded not guilty and is scheduled to stand trial in January.

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It is a very sad day for all who worked with Bob Moffat through the years at IBM. Bob is a good person and dedicated, strong business leader. It is a shame this momentary slip hurt such a great career. He may be down, but, he will not be out. Best to you and your family, Bob.

September 13 2010 at 12:52 PM Report abuse rate up rate down Reply