Former IBM Executive Gets Misty After Pleading Guilty to Insider Trading

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Photo: AP Photo/ Louis Lanzano

Yesterday, Robert Moffat, a senior vice-president at IBM, pleaded guilty to giving insider information to analyst Danielle Chiesi, a co-defendant in the Galleon Group insider-trading case. In court, Moffat, who refuses to help out the prosecution, said that he received no money for the tips, and only did it because he was trying to help out Chiesi, whom he described as a "friend." "I knew that the information I provided would be helpful to her in performing her job," he quavered, according to the Post. Please. We're not believing this friends thing for a minute. First of all, Chiesi is a known siren.

Second, if they were just friends, would Bob really have appeared in a tableau like this?

After the short hearing, Moffat stood outside the courthouse crying in light rain as photographers snapped photos of him.


No word on whether Roxette's "It Must Have Been Love" was playing softly in the background.

Ex-IBM exec Moffat: I was just helping pal [NYP]
Before He Was Arrested for Insider Trading, Bob Was the Most Fun Guy at the Office