IBMer blames mistress for making him mis-talk

Hedge fund hottie played him like a fish


Robert Moffat, once tipped for the top job at IBM, has blamed his mistress for encouraging him to give her information which she used for insider dealing.

He is facing securities fraud and conspiracy charges, and prosecutors are asking for a six month prison sentence.

But Moffat's lawyers, speaking in mitigation, said Danielle Chiesi encouraged pillow talk and Moffat was showing off to her and did not profit from the information he provided. They also said he did not know Chiesi was using the information to trade.

In a letter to the court Moffat said his crimes were not "driven by greed or the desire to profit", but that he wanted to "appear important and knowledgeable to show Ms. Chiesi that I was 'in the know' about important matters", AP reports.

Moffat, who has already pleaded guilty, has previously said the worst loss of the episode was his reputation. He ran Big Blue's PC division, and was once considered next-in-line for chief executive or chairman of IBM.

44-year old Chiesi was an analyst for hedge fund New Castle and has pleaded not guilty to offences which could carry a 155-year sentence. She is being tried separately to Galleon Group founder Raj Rajaratnam.

The case centres on information connected to AMD's decision to spin off its chip manufacturing business, IBM's quarterly results and Sun's results during a period when IBM was considering buying the firm.

Some 21 people, including hedgies and Intel and McKinsey execs are facing charges relating to the scandal. ®

Similar topics


Other stories you might like

  • Amazon warehouse staff granted second chance to vote for unionization

    US labor watchdog tosses previous failed result in the trash

    America's labor watchdog has given workers at Amazon’s warehouse in Bessemer, Alabama, another crack at voting for unionization after their first attempt failed earlier this year.

    “It is ordered that the election that commenced on February 8 is set aside, and a new election shall be conducted,” Lisa Henderson, regional director at the National Labor Relations Board, ruled [PDF] on Tuesday.

    “The National Labor Relations Board will conduct a second secret ballot election among the unit employees. Employees will vote whether they wish to be represented for purposes of collective bargaining by the Retail, Wholesale and Department Store Union.”

    Continue reading
  • It's the flu season – FluBot, that is: Surge of info-stealing Android malware detected

    And a bunch of bank-account-raiding trojans also identified

    FluBot, a family of Android malware, is circulating again via SMS messaging, according to authorities in Finland.

    The Nordic country's National Cyber Security Center (NCSC-FI) lately warned that scam messages written in Finnish are being sent in the hope that recipients will click the included link to a website that requests permission to install an application that's malicious.

    "The messages are written in Finnish," the NCSC-FI explained. "They are written without Scandinavian letters (å, ä and ö) and include, for example, the characters +, /, &, % and @ in illogical places in the text to make it more difficult for telecommunications operators to filter the messages. The theme of the text may be that the recipient has received a voicemail message or a message from their mobile operator."

    Continue reading
  • AsmREPL: Wing your way through x86-64 assembly language

    Assemblers unite

    Ruby developer and internet japester Aaron Patterson has published a REPL for 64-bit x86 assembly language, enabling interactive coding in the lowest-level language of all.

    REPL stands for "read-evaluate-print loop", and REPLs were first seen in Lisp development environments such as Lisp Machines. They allow incremental development: programmers can write code on the fly, entering expressions or blocks of code, having them evaluated – executed – immediately, and the results printed out. This was viable because of the way Lisp blurred the lines between interpreted and compiled languages; these days, they're a standard feature of most scripting languages.

    Patterson has previously offered ground-breaking developer productivity enhancements such as an analogue terminal bell and performance-enhancing firmware for the Stack Overflow keyboard. This only has Ctrl, C, and V keys for extra-easy copy-pasting, but Patterson's firmware removes the tedious need to hold control.

    Continue reading

Biting the hand that feeds IT © 1998–2021