Monday, May 24, 2010

Galleon Watch – Do We Have a Motive?

The NY Times Dealbook reported last week that the first of the sentencing hearings in the Galleon criminal trial concluded with Mark Kurland (formerly of New Castle) receiving 27 months in prison.

In what appears to have been an argument by defense attorneys that Kurland deserved no more jail time than Moffat (whose plea deal would allow up to one year in prison) prosecutors disagreed noting that Kurland was motivated by greed while Moffat, “had an intimate relationship with Chiesi.”

Moffat’s sentencing hearing is set for late July.

In the related civil trial, Anil Kumar (formerly of McKinsey) reached a settlement of $2.8 million with the SEC.

Catch up on the Galleon case here, and don’t forget to check out this week’s regular edition.


Anonymous said...

This is just confirming what I suspected as Mr. Moffat's motivation. Had Mr. Moffat not engaged in the alleged intimate relationship, he would still be at IBM. It seems when many get into powerful positions, they delude themselves into thinking that they can do things and not get caught. Mr. Moffat joins others like Tiger Woods, Eliot Spitzer, John Edwards, etc, who made this mistake and have their reputations tarnished forever.

Colette said...

Anonymous, yes -- kinda sad, isn't it?