News sources including the New York Times are reporting that Bob Moffat, former senior VP at IBM, is expected to plead guilty in the Galleon insider trading case.
It’s been nearly six months since the first arrests in the case were made. Of those six, only Raj Rajaratnam and Danielle Chiesi have entered ‘not guilty’ pleas. According to Bloomberg.com, Moffat has agreed to waive indictment and is expected to be the 11th of the 21 charged to plead guilty. It is not yet clear whether he will cooperate with the prosecution.
Moffat has previously maintained that he did nothing wrong.
A hearing is set for Monday.
You can catch up on earlier Galleon updates here.