Former AMD CEO reportedly linked to Galleon scandal
SUNNYVALE -- A Silicon Valley tech executive has reportedly been connected to the Galleon insider trading scandal. Former Advanced Micro Devices Chairman Hector Ruiz may have been the individual who was the source of the leak to a hedge fund manager in 2008.
The Wall Street Journal cited someone who was familiar with the situation, saying he was the unnamed AMD executive who gave the information to New Castle porfolio Manager Danielle Chiesi. According to the report, Ruiz had released information about AMD's restructuring, which resulted in the creation of Globalfoundries from its manufacturing operations in a joint venture with an Abu Dhabi company.
Ruiz then became the chairperson of Globalfoundries.
While neither AMD or Ruiz have responded to requests for comments, a spokesperson for Globalfoundries says the company has not been contacted by the Justice Department.
