When the news of the Galleon insider trading scandal broke on October 16th, many of you shared my sentiments of shock and outrage, as we discussed what could have motivated senior executives (I’m no longer using the word ‘leader’ to describe them) like Bob Moffat and Mark Kurland to allegedly participate.
Was it power? Prestige? Greed?
A report by Bloomberg on November 23rd offers a possible motive. The story suggests that Danielle Chiesi, a former beauty queen, ‘attracted’ top business executives in bars and ballrooms, building a powerful network and charming these men into spilling company secrets (and possibly breaking the law). Bloomberg refers to Chiesi as “the woman who sank Galleon.”
What do you think? Is it really possible that a woman could be at the center of the ring?
In other Galleon news, on November 25th law.com reported that Raj Rajaratnam and his lawyers are arguing that the wiretaps used to secure key information that led to the arrests, were unconstitutional.
Watch this space as the December 16th indictment nears.