Posted by: badarrow
Barbara Darrow, Bob Moffat, Galleon Group, IBM, IBM Systems, insider trading, IT channel products and technologies
Ex-IBM exec Bob Moffat is going to jail for six months.
Moffat got caught up in the Galleon Group insider training mess and will now pay the price.
Moffat joined IBM in 1978, just out of school. At various points during that long career, he was general manager of IBM’s huge Systems Group and was a board member of Lenovo, the Chinese company that took over IBM’s ThinkPad PC line. He, among many other IBM execs, had at times been touted as an possible “heir apparent” to CEO Sam Palmisano.
More than a dozen people were caught up in charges relating to this case. Eleven, including Moffat, pleaded guilty. Alleged masterminds Raj Rajaratnam and Danielle Chiesi still await trial. The judge levied the maximum jail time for Moffat but did defer it till June of 2011.