According to Fortune Magazine, Danielle Chiesi has become “a confirmation of all (that individuals have) suspected is wrong with Wall Street”. Charged with securities fraud and conspiracy, Bob Moffat, former IBM exec, and Danielle Chiesi, are facing trial.
How Danielle Chiesi got inside Wall Street
Danielle Chiesi was an employee of the Galleon hedge fund, employed directly by Raj Rajaratnam, the founder of the fund. Insider details was Danielle Chiesi’s entire stock in trade. Danielle Chiesi developed and maintained a “harem” of inside sources at various tech companies. By targeting older men, wearing short skirts and low-cut shirts, and telling them all that “I love the 3 S’s, sex, stocks and sports” she was able to get inside stock data for her employer, says Fortune. On Wall Street, Danielle was known as a strong seductress who could get info out of most men.
The accused crimes of seductress Danielle Chiesi
While targeting and sleeping with lots of high-profile executives is not technically illegal, what she did with some of the details was. The crime of insider trading is what Chiesi was allegedly doing – passing along inside data about stocks. Chiesi is on trial right now, after pleading not guilty to the charges of insider trading.
Why insider trading is a crime
Understanding insider trading could be very difficult. The understanding that everyone has the very same information is the basis of a fair stock market. When individuals get inside information from people who work at the company, they’re able to purchase or sell stocks before the data is public knowledge. Cheating the system, in other words – which is exactly what Danielle Chiesi is accused of. This exact same crime is the one Martha Stewart was accused of. Info can be seduced out of executives, especially by younger women who claim to be into older men. Could the fact money can be this very easily gamed out of the system inspire any kind of confidence in the system?
