People who engage in insider trading are usually motivated by greed and power. Danielle Chiesi was motivated by sexual gratification, according to a story in Fortune this month about the analyst who was arrested as part of a sting against the Galleon Group last fall and her affair with Bob Moffat, the executive at IBM she allegedly bilked for info. The story, which reads more like a hilarious bodice-ripper than a piece of financial journalism, reports that Chiesi didn’t earn that much by Wall Street standards on her trades — less than $1 million most years and $2 million in her best year — but money wasn’t what she was after. According to the people who knew her and/or their imaginations, when it came to information, she was insatiable.
Poor Bob Moffat was merely a victim of her voracious appetites, according to the magazine.
And spreadsheets, apparently. Chiesi and Bob began an affair in 2003, but their lovemaking meant something different to him than it did to her. “Everyone wants to make this about sex,” Bob explained.
Okay. Fortune attempts to explain.
Except for Chiesi. For Chiesi, it was about sex.
Dangerous liaisons at IBM: Inside the biggest hedge fund insider-trading ring [Fortune]
Earlier: Analyst Who Fed Raj Rajaratnam Inside Information Was a Total Cougar