Danielle Chiesi Prison

Hedge Fund Exec Gets 30 Months Prison for Insider Trading

Danielle Chiesi, a former executive at a New York hedge fund, received a sentence of 30 months in prison for insider trading. The former New Castle Partners executive was convicted of insider trading and received three months longer in prison than her boss Mark Kurland. The sentence is more time than her lawyers pushed for and less time than the prosecution sought.

U.S. District Judge Richard Holwell imposed a 30-month sentence on the former beauty queen and New Castle Partners executive, a term unlikely to make either side happy. Prosecutors had sought between 37 and 46 months for Chiesi, while her attorneys had asked for significantly less time than the 27 months that her boss—and former lover—Mark Kurland received.

Chiesi pleaded guilty to conspiracy and fraud in January, just a month before Rajaratnam's trial began. Chiesi did not testify against the Galleon chief, but her flirtatious phone calls with Rajaratnam were played at his trial, which resulted in his conviction on all counts.

Chiesi blamed her relationship with Kurland for her misdeeds, with her lawyer arguing last month that her actions were "the manifestation of the psychological and emotional forces impacting" on her. Source

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