Feeds

Ex-boss of AMD linked to Galleon fraud probe

Hector Ruiz fingered

Top 5 reasons to deploy VMware with Tegile

The ex-boss of AMD Hector Ruiz could face charges relating to the Galleon insider trading case.

Ruiz - former chief executive of AMD and now chairman of Globalfoundries - is accused of passing information on to hedge fund manager Danielle Chiesi, not of profiting personally.

Court documents reveal that an executive at AMD told Chiesi that the company planned to spin off its manufacturing business into GlobalFoundries in September, ahead of the official announcement in October. Chiesi worked for hedge fund New Castle and sought to profit from the information. She is also accused of getting inside info from senior IBM executive Robert Moffat.

Ruiz was fingered by anonymous sources talking to Bloomberg. Ruiz and GlobalFoundries, declined to comment. Ruiz has not been charged with any offence.

Executives from Intel have also been dragged into the case, which the FBI describes as the world's largest ever insider trading case. It is also the first time that wire-tap evidence has been used to bring insider trading charges.

The $20m scam still has a long way to unravel and is dragging in most of the biggest names in the industry - Google recently dropped its investor relations firm Market Street Partners over allegations that one of its staff leaked Google's numbers to someone at Galleon.

IBM executive Robert Moffat has been suspended after he was arrested and charged with conspiracy. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Oi, Tim Cook. Apple Watch. I DARE you to tell me, IN PERSON, that it's secure
State attorney demands Apple CEO bows the knee to him
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Will BlackBerry make a comeback with its SQUARE smartphones?
Plus PC PIMs from company formerly known as RIM
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Hey, Mac fanbois. HGST wants you drooling over its HUGE desktop RACK
What vast digital media repository could possibly need 64 TERABYTES?
Soundbites: News in brief from the Wi-Fi audiophile files
DTS and Sonos sing out but not off the same hymnsheet
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.