seema has just posted in the Career forum of Wiki Newforum under the title of 15 Biggest technology scandals of 2009.
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Image: http://infotech.indiatimes.com/photo/5296118.cms
Leading US technology firm IBM found itself entangled in the largest-ever hedge fund insider-trading scheme involving Galleon Group founder Raj Rajaratnam.
Robert Moffat, senior vice president and head of IBM's systems and technology group was named as a defendant. Executives at leading chipmaker Intel Corp and management consulting firm McKinsey & Co were also implicated.
The charges, stemming from wiretaps, included accusations that Moffat passed on to hedge fund New Castle Group insider information on Advanced Micro Devices Inc, obtained through IBM's business negotiations with the company.
He is also accused of passing on information on IBM itself ahead of the company's quarterly results, as well as those of Sun Microsystems while IBM was looking at its books for a possible acquisition. The FBI said Moffat was one of the IBM executives conducting due diligence on Sun.
Rajaratnam is also accused of conspiring with Rajiv Goel, director of strategic investment at Intel's investment arm, and Anil Kumar, a director of powerful management consulting firm McKinsey & Co.
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