Wednesday, June 15, 2011

New Castle Chiesi was Boss ' "virtual servant"

Danielle Chiesi, the hedge fund manager who pleaded guilty in Galleon insider trading investigation team, said his boss at New Castle partners transformed her into a "virtual servant".

In court papers, said Chiesis lawyers also Mark Kurland, her ex-Partner, head of New Castle and her former lover, exposed her to a "vicious cycle of abuse" and "psychological abuse".

Chiesi requests a Federal Court judge to her less than the federal sentencing guidelines, 37-46 months.

Prosecutors, however, to be known as Chiesi, "an elaborate Wall Street insider," in their newspapers asking the judge to adhere to the guidelines on her sentence.

"Chiesi is driven in large part on its own, and she was sufficiently experienced and sophisticated that she knew exactly what she did. In short, she was not only the Courland's minion, "prosecutors wrote.

Kurland pleaded guilty last year and is serving 27 months in prison.

At least, Chiesis lawyers argued, she gets less time than Courland.

After Courland was sentenced, prosecutors argued that it was he, not Chiesi, who decided how big a position New Castle should take in securities that are bought and sold based on inside information.

She raised eyebrows during the trial of Galleon founder Raj Rajaratnam when heard on the tape says in the hedge fund manager who played she employed Akamai "as a finely tuned piano." Rajaratnam was sentenced last month by 14 points for insider trading.

Chiesi is scheduled to be sentenced on June 30.

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