Arthur Cutillo, Jason Goldfarb, Zvi Goffer, and Craig Drimal have been arrested. Cutillo (of Ropes & Gray), Goldfarb, Goffer (Incremental), and Drimal (Galleon) are among insider trading arrests added today to the growing Galleon Group case first profiled on LALATE.

In total 14 arrests Thursday.

Zvi Goffer is a former Galleon employee. Craig Drimal works in the Galleon’s New York office. Goffer is according to FBI is the alleged ringleader. Goffer founded Incremental Capital LLC. Involve in his alleged scheme were pre-paid cellphones.

Arthur Cutillo and Jason Goldfarb are attorneys and among five lawyers arrested today. The charges for the 14 range from conspiracy to fraud.

U.S. Attorney Preet Bharara said today - “If you’re a wealthy trader, you aren’t special. Knock on our door before we come knocking on yours.” In total $40 million was believed a part of the insider trading scheme.

Cutillo works at Ropes & Gray. It issued a statement today - “We are deeply disappointed to learn about this situation which suggests an extreme breach of this person’s duty of trust to our clients and to the firm. We cannot comment in detail on an ongoing investigation ut we are moving quickly to protect our clients and are cooperating fully with authorities.”

For continuing coverage of the other arrests today on LALATE, click here:

http://news.lalate.com/category/money.

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Bill Seebeck is the man who was “denied” a $166 million jackpot. Even worse, Bill Seebeck’s $166 million jackpot jackpot was on a machine with a potential jackpot of either $2500 or $90,000.

Where was this mess? All the numbers went down at the Seminole Hard Rock Casino. Shockingly, the matter has actually been resolved. Case closed. No $166 million every paid.

Yes by Tuesday, reports indicate that the Casino and Seebeck have settled and they look forward to Bill’s future visits. The money mess went down on a $4 slot machine in the Tampa casino. The slot’s maximum jackpot was either $2500 or $90,000. But to Bill’s surprise, the machine read he won $166,666,666.65!

The casino said - sorry - a slight error there.

Bill never saw all that money. ABC had reported “Seebeck says he is looking for a lawyer to help him comprehend the convoluted federal Indian gaming regulations to possibly pursue legal action”.

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Bill Seebeck is the man who a casino denied a jackpot. Bill Seebeck’s jackpot was denied by the Seminole Hard Rock Casino.

You see, Bill went to play on $4 slot machine in the Tampa casino. The slot’s maximum jackpot was either $2500 or $90,000. But to Bill’s surprise, the machine read he won $166,666,666.65! That’s one devil of a win.

Bill never saw all that money. Gus Garcia Roberts reports for the Miami New Times that initially Bill didn’t get even a penny. ABC reported “Seebeck says he is looking for a lawyer to help him comprehend the convoluted federal Indian gaming regulations to possibly pursue legal action”.

But by Tuesday, Roberts reports the Casino and Seebeck have settled and they look forward to his future visits.

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A September Home Sales Report could should impressive number. The September Home Sales Report could show September was the highest home sales month in two years when the report is released today.

At 10 AM eST / 7 AM PST we will learning if the report matches market estimates. The market anticipates the report will say home resales are up 5% since August 2009. That number from Thomson Reuters if correct would be the best home sales monthly number in over two years.

The cause of the spike? Insiders believe it’s being driven by foreclosure sales in cities like Los Angeles and Las Vegas, plus a tax credit of 10% of the sales price, up to $8,000, if they (1) are a new home buyer and (2) they close before Nov 30.

Yet while sales may be up, pricing of homes is expected to fall even greater by 2010 as unemployment at 9.8% could still grow to 10.5% next year says AP Friday.

Stay here for the housing numbers at 7 AM PST.

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PHOTO! Here again is a picture of IBM’s Robert Moffat, aka Bob Moffat, and arrest update. Bob Moffat and Danielle Chiesi were among six arrested in conspiracy to commit insider trading on Friday. IBM has now said Bob Moffat is on administrative leave.

In view of a U.S.federal investigation into his personal activities Mr Moffat has been palced on teporary leave of absences and is no serving as an officer of IBM.

Rod Adkins will now serve as acting leader of IBM’s systems and technology group.

Wearing a white sweater and black jacket, Chiesi had a grim face. In fact, wire taps reported earlier on LALATE and further below have Chiesi stating what she believes she did not want to become - “like Martha Stewart”

CLICK HERE FOR THE PHOTO

Cheisi is reportedly recorded on wire taps says :”I swear to you in front of God … You put me in jail if you talk.” Later she adds: “I’m dead if this leaks. I really am … and my career is over. I’ll be like Martha (expletive) Stewart.”

Robert Moffat is IBM’s (now former) Senior Vice President and Group Executive, Systems and Technology Group. He was named to that position in 2008 and according to his bio joined IBM in 1978.

Reports state the second complaint today accuses “Danielle Chiesi, Mark Kurland and Robert Moffat — of securities fraud and conspiracy to commit insider trading.”

Moffat was arrrested today along with Rajiv Goel, Anil Kumar, Danielle Chiesi, and Mark Kurland.

Moffat’s bio reads as follows:

Robert W. Moffat, Jr. is senior vice president and group executive, IBM Systems and Technology Group. Named to this position in July 2008, Mr. Moffat is responsible for all IBM hardware offerings as well as the microelectronics division, which translates IBM research and development into semiconductor solutions for IBM systems and OEM clients. In addition, the company’s integrated supply chain operations, which include global manufacturing, procurement and customer fulfillment, report to him.

Mr. Moffat was senior vice president, Integrated Operations. In this cross-functional role created in July 2005, he led an initiative to transform and integrate the company’s supply chain and service delivery operations globally, leveraging new business process designs and advanced technology to achieve greater levels of efficiency while improving IBM’s market responsiveness.

Prior to that, Mr. Moffat was senior vice president and group executive of IBM’s Personal and Printing Systems Group, where he was responsible for worldwide sales, development, manufacturing and marketing of Personal Computers, Printing Systems and Retail Store Solutions. Before that, he was vice president, finance and planning for the Enterprise Systems Group.

The bio, updated last year and located here, lists Moffat’s education as follows:

Mr. Moffat is a graduate of Union College in Schenectady, New York, with a B.S. degree in Economics. He also holds an MBA in Management Information Systems from Iona College in New Rochelle, New York.

For continuing coverage on LALATE click here: http://news.lalate.com/category/money.

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PHOTO! Here is finally a picture of Danielle Chiesi of New Castle Partners arrested today. Danielle Chieisi  with  Mark Kurland of New Castle Partners were among six persons arrested in a massive alleged insider trading case covered extensively all day long on LALATE.

Wearing a white sweater and black jacket, Chiesi has a grim face. In fact, wire taps reported earlier on LALATE and further below have Chiesi stating what she believes she did not want to become.

CLICK HERE FOR THE PHOTO

Cheisi is reportedly recorded on wire taps says :”I swear to you in front of God … You put me in jail if you talk.” Later she adds: “I’m dead if this leaks. I really am … and my career is over. I’ll be like Martha (expletive) Stewart.”

Chiesi is heard elsewhere on wire taps with billionaire Galleon Group Hedge Fund founder Raj Rajaratnam with an Akami executive in the following exchange

Akami executivee: “Danielle, I have a major present for you.”

She asks what.

Akamai executive: “Information”.

Chiesi: “Well that, that is a great present.”

Chiesi: “Akamai…. I’m trading it tomorrow.. They’re gonna guide down. I just got a call from my guy … I was talking about the family and everything, and then he said people think it’s gonna go to 25 (dollars per share). They print on Wednesday.”

Rajaratnam: “You got a few more days, Friday, Monday …”

Chiesi: “Just keep shorting every day. We got a lot of days.”

Also arrested today are Rajiv Goel, director in strategic investments at Intel Corp.’s investment arm; Anil Kumar, a director at global management-consulting firm McKinsey & Co.; Mark Kurland of New Castle Partners LLC,; and Robert Moffat, a senior vice president at International Business Machines Corp.

Reports state that the second complaint accuses “Danielle Chiesi, Mark Kurland and Robert Moffat — of securities fraud and conspiracy to commit insider trading.”

For continuing coverage on LALATE click here: http://news.lalate.com/category/money.

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PHOTO! Here is a picture of IBM’s Robert Moffat, aka Bob Moffat, reportedly arrested on conspiracy to commit insider trading. Robert Moffat is IBM’s Senior Vice President and Group Executive, Systems and Technology Group. He was named to that position in 2008 and according to his bio joined IBM in 1978.

Reports state the second complaint today accuses “Danielle Chiesi, Mark Kurland and Robert Moffat — of securities fraud and conspiracy to commit insider trading.”

Moffat was arrrested today along with Rajiv Goel, Anil Kumar, Danielle Chiesi, and Mark Kurland.

Moffat’s bio reads as follows:

Robert W. Moffat, Jr. is senior vice president and group executive, IBM Systems and Technology Group. Named to this position in July 2008, Mr. Moffat is responsible for all IBM hardware offerings as well as the microelectronics division, which translates IBM research and development into semiconductor solutions for IBM systems and OEM clients. In addition, the company’s integrated supply chain operations, which include global manufacturing, procurement and customer fulfillment, report to him.

Mr. Moffat was senior vice president, Integrated Operations. In this cross-functional role created in July 2005, he led an initiative to transform and integrate the company’s supply chain and service delivery operations globally, leveraging new business process designs and advanced technology to achieve greater levels of efficiency while improving IBM’s market responsiveness.

Prior to that, Mr. Moffat was senior vice president and group executive of IBM’s Personal and Printing Systems Group, where he was responsible for worldwide sales, development, manufacturing and marketing of Personal Computers, Printing Systems and Retail Store Solutions. Before that, he was vice president, finance and planning for the Enterprise Systems Group.

The bio, updated last year and located here, lists Moffat’s education as follows:

Mr. Moffat is a graduate of Union College in Schenectady, New York, with a B.S. degree in Economics. He also holds an MBA in Management Information Systems from Iona College in New Rochelle, New York.

For continuing coverage on LALATE click here: http://news.lalate.com/category/money.

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