Former AMD CEO linked to Galleon case

From CNET News.com: The former CEO and chairman of Advanced Micro Devices, Hector Ruiz, has been linked to the Galleon insider-trading case, according to a report in the Wall Street Journal on Tuesday.

This revelation comes after an unnamed executive at AMD was cited repeatedly in a complaint filed by the U.S. Attorney for New York's Southern District earlier this month.

The case revolves around Raj Rajaratnam, who founded the Galleon Group, a New York-based hedge fund that manages $7 billion in funds. Federal prosecutors charged Rajaratnam and five others with securities fraud, alleging they were involved in insider trading of well-known tech companies, including Intel, Google, AMD, and IBM.

"We are thoroughly reviewing the situation," AMD spokesperson Drew Prairie said. "We are not aware of any allegation of criminal misconduct on the part of any current or former AMD employees, nor have any current or former AMD employees been charged with a crime."

Ruiz is currently chairman of Globalfoundries, the chip manufacturing concern that was spun off from AMD in October of last year. A Globalfoundries spokesman had no comment.

View: Article @ Source Site