Danielle Chiesi settles with SEC, to pay $540,535

Reuters News
Posted: Jul 13, 2011 10:53 AM
Danielle Chiesi settles with SEC, to pay $540,535

NEW YORK (Reuters) - Danielle Chiesi, who pleaded guilty in January as part of the U.S. government's hedge fund insider trading probe, agreed to pay $540,535 to settle related Securities and Exchange Commission civil charges.

According to a court filing, Chiesi will give up $500,000 representing improper gains, plus $40,535 of interest.

Chiesi pleaded guilty on January 19 to three conspiracy counts. She has been one of the central figures in the insider trading probe, and is a former co-defendant of Galleon Group hedge fund founder Raj Rajaratnam, who was convicted in May.

(Reporting by Jonathan Stempel, editing by Gerald E. McCormick)