Ex-AMD head drawn into Galleon probe

[maddezmom]

Source: FT

Ex-AMD head drawn into Galleon probe
By Richard Waters in San Francisco and Joanna Chung in Houston

Published: October 28 2009 06:29 | Last updated: October 28 2009 06:29

Hector Ruiz, former chief executive officer of chipmaker AMD, has become the most senior technology industry executive to be drawn into the insider-trading scandal that has engulfed US hedge fund Galleon.

A complaint filed by the US attorney in Manhattan earlier this month alleged that an unnamed AMD executive had passed inside information about the company to Danielle Chiesi, a former analyst at another hedge fund, New Castle Partners. Ms Chiesi was charged with trading on non-public information but, through her lawyer, has denied acting illegally.

The complaint did not allege that the unnamed executive had acted illegally or had passed on the information for financial gain.

Mr Ruiz, who retired from AMD last year, was the executive mentioned in the complaint, according to a person briefed on the matter. Mr Ruiz could not be contacted and a spokesman declined to comment.



Read more: http://www.ft.com/cms/s/0/16ef0ec4-c37e-11de-a290-00144feab49a,dwp_uuid=e8477cc4-c820-11db-b0dc-000b5df10621.html

[skoalyman]

1. I wish we had more chip makers intel has a monopoly the way they

price there top chips out us poorer folks range we know intel probably did some inside shit before too.I might just go amd when my p4 system gives up the ghost.:argh:

[nc4bo]

2. I love my AMD chip especially since it's not Intel.

It sure would be nice to see more variety out there.