With his guilty plea today in the Galleon insider trading case, Bob Moffat now faces up to six months in jail.
According to the New York Times, Moffat admitted to providing material non-public information to Danielle Chiesi, consultant at Bear Stearns, about AMD, Lenovo, and IBM. In his statement today in court, Moffat said that he knew what he did was wrong. He also acknowledged that he breached his duty of confidentiality with IBM. Moffat is not cooperating with the prosecution.
A hearing is schedule for July 26th.
What's the verdict here? Has justice been served?