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Moffat’s & Other Indictments Delayed

They are expected to be arraigned Monday, December 21, and plead not guilty

CEOs in Technology on Ulitzer

Raj Rajaratnam, the billionaire ringleader of the Galleon insider-trading mob, and Danielle Chiesi, the ex-beauty queen who allegedly charmed ex-IBM SVP Robert Moffat and ex-AMD CEO Hector Ruiz into telling her valuable company secrets, were indicted by a federal grand jury Tuesday on 17 counts of securities fraud and conspiracy.

They are expected to be arraigned Monday, December 21, and plead not guilty.

A lawyer for Roomy Khan, the ex-Galleon, ex-Intel employee who's one of the government's star informants, reportedly told Rajaratnam's lawyer he better listen to the wire taps first. Khan pleaded guilty in October and will be sentenced May 17.

Rajaratnam is looking at a possible 145 years in jail, Chiesi is looking at 155.

Rajaratnam will also make a bid Monday to get his $100 million bail reduced to $20 million, roughly the amount of illegal profits the government wants them to disgorge.

Moffat, on the other hand, who ran IBM's server operation before he was arrested, hasn't been indicted. Neither has Intel treasury executive Rajiv Goel, McKinsey & Co director Anil Kumar or Chiesi's boss at New Castle Funds Mark Kurland.

The government Wednesday asked for a month's extension saying they were discussing "a possible disposition of the cases." Could mean a deal. Could mean the government is crossing its "Ts" and dotting its "Is."

The New York Times reported being told by Moffat's lawyer Tuesday that Moffat is not cooperating with authorities.

Six lawyers and traders implicated in the case including Khan have already pled guilty.

The stocks they traded in included Akamai, Sun, IBM, Google AMD, Intel and Clearwire among others.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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