Feeds

Ex-boss of AMD linked to Galleon fraud probe

Hector Ruiz fingered

Intelligent flash storage arrays

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
Don't wait for that big iPad, order a NEXUS 9 instead, industry little bird says
Google said to debut next big slab, Android L ahead of Apple event
Xperia Z3: Crikey, Sony – ANOTHER flagship phondleslab?
The Fourth Amendment... and it IS better
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
A drone of one's own: Reg buyers' guide for UAV fanciers
Hardware: Check. Software: Huh? Licence: Licence...?
The Apple launch AS IT HAPPENED: Totally SERIOUS coverage, not for haters
Fandroids, Windows Phone fringe-oids – you wouldn't understand
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Here's your chance to buy an ancient, working APPLE ONE
Warning: Likely to cost a lot even for a Mac
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.