Sentencing Set Today for Ex-IBM Exec

Monday, Sep 13, 2010  |  Updated 7:30 AM EDT
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Sentencing Set Today for Ex-IBM Exec

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Former IBM executive Robert Moffat faces sentencing for his role in the biggest hedge fund insider trading case in history. He pleaded guilty to conspiracy to commit securities fraud and securities fraud earlier this year.

The 53-year-old Moffat of Ridgefield, Conn., was once considered a candidate for chief executive officer at IBM.

His lawyers say an intimate relationship with a hedge fund company employee who later "played'' him led him to feed her confidential information. That resulted in his insider trading arrest.

The lawyers have asked a judge to sentence him to probation. Prosecutors have asked that Moffat be sentenced to six months in prison. They say his crimes were committed out of a misguided belief he could never be caught.

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