UBS-Madoff, Da Vinci Invest, RBC Capital, News Corp., Altria in Court News
Danielle Chiesi, the former New Castle Funds LLC analyst who was heard on a federal wiretap passing secret tips to Galleon Group LLC co-founder Raj Rajaratnam, was sentenced to 2 1/2 years in prison.
U.S. District Court Judge Richard Holwell in Manhattan yesterday called her crimes “deplorable” as he imposed the sentence, plus two years of supervised release, on the 45-year- old former beauty queen. “This was not an isolated transgression,” he said.
“The message to Wall Street needs to be loud and clear. If you trade on inside information, you will be caught,” Holwell said. “And if convicted, you will be sentenced to a substantial term in prison.”
Chiesi, who wore a light pink sleeveless sheath dress and pearl necklace, must report Sept. 20 to Federal Prison Camp Alderson in West Virginia , a minimum-security facility in the foothills of the Allegheny Mountains where Martha Stewart served a five-month term after being convicted of lying to federal authorities about her sale of stocks.
“I know that there’s a punishment for people who do wrong,” Chiesi told the judge, dropping her head and her voice choking with emotion. “But it won’t happen again.”
Holwell yesterday also imposed a $25,000 fine and ordered her to do 250 hours of community service. He directed that she undergo substance-abuse treatment and therapy “to allow her to readjust a moral compass which obviously fell by the wayside.”
Chiesi pleaded guilty Jan. 19 to three counts of conspiracy, telling Holwell at the time that she was “deeply ashamed” of what she had done.
Chiesi’s lawyer, Alan Kaufman, yesterday asked the judge for less prison time than the 27 months Holwell imposed last year on her former boss, Mark Kurland , co-founder of New Castle Funds, arguing that she was emotionally and financially dependent on Kurland. Chiesi’s lawyers claimed in court papers that Kurland had used their “toxic” sexual relationship to manipulate her into feeding him inside tips.
Assistant U.S. Attorneys Reed Brodsky, Jonathan Streeter and Andrew Michaelson had argued that Chiesi should get a term of 37 to 46 months in prison, citing the U.S. sentencing guidelines, which aren’t binding.
Kaufman said, “We think the judge gave what he thought was a fair sentence and we respect the thoughtfulness and thoroughness he paid. Danielle will serve her sentence and get on with her life.”
The case is U.S. v. Rajaratnam, 09-cr-1184, U.S. District Court, Southern District of New York (Manhattan).
Insurance Selling Tips - News
Other restaurant operating costs were up 50 basis points, largely due to lower same-restaurant sales during the quarter; insurance retention expenses associated with the spring tornado and hail damage, which significantly impacted 2 of our restaurants
Danielle Chiesi, the former New Castle Funds LLC analyst who was heard on a federal wiretap passing secret tips to Galleon Group LLC co-founder Raj Rajaratnam, was sentenced to 2 1/2 years in prison.
It will also become due if the borrower fails to pay house insurance or property taxes - a huge potential problem that borrowers need to be aware of. Both property taxes and insurance are likely to rise dramatically in the future.
The insurance company has to collect enough in premiums not only to pay out benefits but also to cover their expenses (including that nice big fat commission check your adviser could get for selling it to you) and make a profit.
This is the first of five demonstrations at the Port Angeles Farmers Market from now through November that will highlight fresh food available at the market and offer tips and recipe cards for preparing the greens, grains, fruits, meats, cheeses,
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• First consider whether the business of selling insurance is good for you or not.
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