Ex-AMD CEO Hector Ruiz linked to Galleon via info leak
A former chief executive of Advanced Micro Devices became the biggest name to be linked to the Galleon Group insider-trading scandal, when the Wall Street Journal reported on Tuesday that he leaked information about the microprocessor maker in 2008 to a hedge fund manager. The Wall Street Journal reported that Ruiz specifically imparted sensitive information about the restructuring of AMD at the time, in which it spun off its manufacturing operations into the Globalfoundries joint venture with an Abu Dhabi firm. Ruiz is now chairman of contract chipmaker and AMD-affiliate Globalfoundries. Here is a recent picture of Hector Ruiz from the Globalfoundries Fab 2 ceremony in New York back on July 24th, 2009.
Hector Ruiz is the unnamed AMD executive accused in a criminal case, filed by the Manhattan U.S. Attorney’s office this month, of sharing information with New Castle portfolio manager Danielle Chiesi, the newspaper reported, citing a person familiar with the matter. New Castle was among the funds accused by U.S. authorities of engaging in the insider-trading scheme that has engulfed hedge fund Galleon Group. New York-based Galleon is at the center of the biggest insider-trading case in decades.
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