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Danielle Chiesi

Chiesi Gets 2-1/2 Years Prison in Insider Case

Danielle Chiesi, a former hedge fund trader and key defendant in the sprawling Galleon Group insider trading case, was sentenced Wednesday to 2-1/2 years in prison, and the presiding judge gave a stern warning to others on Wall Street considering breaking the law.Chiesi, 45, 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.``The message to Wall Street needs to be loud and clear: If you trade on inside information, you will be caught; if convicted, you will be sentenced to prison,'' U.S. District Judge Richard Holwell in Manhattan said after imposing the sentence.Rajaratnam, a one-time billionaire, was convicted on May 11, and faces a Sept. 27 sentencing, also by Holwell.Wearing a pale pink sleeveless silk dress, matching shoes and a pearl necklace, Chiesi, a former high school beauty queen, spoke briefly to the judge before being sentenced. She pleaded guilty in January to ...

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