According to Reuters and AP, Danielle Chiesi, a former hedge fund trader and key defendant in the sprawling Galleon Group insider trading case, was sentenced on Wednesday to 2-1/2 years in prison. Chiesi, 45, was sentenced by U.S. District Judge Richard Holwell in Manhattan.
She is the first major defendant to be sentenced in the government's probe, unveiled in October 2009 and centered on Raj Rajaratnam, founder of the Galleon hedge fund. She pleaded guilty in January to insider trading charges in what prosecutors have said was the biggest hedge fund insider trading case in history.
Her voice was prominent on audio tapes played at the trial of one-time billionaire Raj Rajaratnam. He was convicted in May after prosecutors blamed illegal trades on more than $50 million in profits. He awaits sentencing….
Find out more at http://www.cnbc.com/id/43828754
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