Chiesi gets 2-1/2 years prison in insider case

Reuters News
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Posted: Jul 20, 2011 3:19 PM

NEW YORK (Reuters) - Danielle Chiesi, a former hedge fund trader and key defendant in the sprawling Galleon Group insider trading case, was sentenced on Wednesday to 2-1/2 years in prison.

Chiesi, 45, was sentenced by U.S. District Judge Richard Holwell in Manhattan.

She is the first major defendant to be sentenced in the government's probe, unveiled in October 2009 and centered on Raj Rajaratnam, founder of the Galleon hedge fund.

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