Trader linked to Raj Rajaratnam set to appear in New York court Danielle Chiesi, the former beauty queen turned stock trader, faces up to four years in jail for her role in the biggest insider-dealing case in decades by a New York judge as she awaits her sentence today. Chiesi, 45, was the former confidante of hedge fund billionaire Raj Rajaratnam . She pleaded guilty to three criminal counts of conspiracy to commit securities fraud in January, in a move that was seen as a major breakthrough for the prosecution. Rajaratnam, founder of the Galleon Group hedge fund, was the central figure in the biggest insider-dealing case the US government has investigated since the 1980s. He fought the charges but was found guilty of fraud and conspiracy in May and is awaiting sentencing. Prosecutors are pushing for Chiesi, who once compared trading inside information to having an orgasm, to receive up to 46 months in jail. Alan Kaufman, her lawyer, has argued that Chiesi never traded on the insider information in her personal accounts and was the victim of a “toxic” sexual relationship with Mark Kurland, her former boss and lover at trader New Castle Partners. Kurland, who also pleaded guilty in the Galleon case, is serving 27 months. According to a letter filed with the court by Chiesi’s boyfriend, identified only as “Billy,” Chiesi was manipulated by Kurland, who engaged in a “vicious cycle of abuse” and “psychological exploitation” to turn her into his “virtual servant”. Chiesi is scheduled to appear before judge Richard Holwell in Manhattan federal court. She will become the 10th person to be sentenced out of 46 guilty pleas and convictions secured in the massive insider-dealing investigation. Rajaratnam once ran one of the biggest hedge funds in the world. He was convicted on 14 counts of fraud and conspiracy after a jury heard he had used a network of high-level contacts, including Chiesi, to gather inside information on top companies including Goldman Sachs, Google and Hilton. The jury in the Rajaratnam trial heard phone calls between the hedge fund billionaire and Chiesi that were secretly tapped by the prosecution. The pair discussed upcoming results from Akamai Technologies. The prosecution argued Chiesi passed inside information about the firm on to Rajaratnam. After he had made his investments, the Galleon boss called Chiesi: “Hi Dani. Raj. I just wanted to say thank you,” he said. She replied: “It’s a conquest. It’s mentally fabulous for me,” adding “I love the way I feel right now.” Hedge funds United States New York Goldman Sachs Google Dominic Rushe guardian.co.uk
Continue reading …Kamariah Ali may consider herself a member of the Sky Kingdom sect—known as the “teapot cult”—but she is a Muslim under the law, a Malaysian civil court has decided. The court rejected the 60-year-old woman’s request to leave Islam to avoid being jailed for apostasy, the BBC reports….
Continue reading …Rebel forces in Misrata say they are making gains amid heavy fighting, while minefields hamper progress in battle for Brega Libyan rebel forces in Misrata, supported by Nato air strikes, launched an offensive towards the government-held town of Zlitan on Wednesday morning, with fighters saying they were making gains amid heavy fighting. “We are now one and a half kilometres from Zlitan,” said a rebel fighter, Mohammed Ashanobah, of the Shaheed (Martyr) Brigade. “The revolutionaries attacked at eight this morning.” In eastern Libya, rebels continue to try to capture Brega, a key government-held town that is home to an oil refinery. They said they were being hampered in their efforts by extensive minefields. Nato said it destroyed six government artillery pieces around Misrata on Monday and planes hit a further 12 targets on Tuesday, marking a sharp escalation in alliance air strikes around the besieged city. Hikma hospital in Misrata reported seven fighters killed and 14 wounded by midday. Tripoli issued no casualty figures. Among the wounded were two government soldiers brought to the hospital for treatment by the man who shot them. Hiden Hassan, 37, another Shaheed Brigade fighter, said the two soldiers had driven towards them as they advanced. “They came in a Toyota and they were shooting at us,” he said. “We fired back. The Toyota stopped and they jumped out, still firing their weapons. So I shot at them, I hit them both in the legs.” He said he called on his comrades to drag the wounded men behind the frontline, and then accompanied them in a rebel pickup truck to the hospital. “They are Muslims, I am Muslim, they are Libyans, I am Libyan,” he said. “It was my duty to help.” Rebel units have failed to break the six-week deadlock around the city, and the latest offensive is important politically and militarily. Together with the Brega offensive, the rebel National Transitional Council in Benghazi hope to demonstrate to coalition forces that they can win the war and avert talk of a compromise political solution that may divide the country. Libya Middle East Chris Stephen guardian.co.uk
Continue reading …As debt talks drag on, public opinion is shifting in favor of lifting the debt ceiling, and against politicians who refuse to budge, according to two new polls. Some 38% of Americans now favor lifting the debt ceiling, a 10-point jump from a month ago, as opposed to 31% against,…
Continue reading …The man who nearly creamed Rupert Murdoch —and got creamed by the publisher’s wife—is an “activist comedian.” Stand-up comic Jonnie Marbles, née Jonathan May-Bowles, tweeted his plan to launch a shaving-foam pie into Murdoch’s face yesterday as the beleaguered publisher was being grilled before a parliament committee on the…
Continue reading …American-Pakistani relations slumped further downhill yesterday with the arrest of a Washington-based lobbyist accused of being in the pay of Pakistan’s spy agency. Federal investigators say Pakistan spent millions of dollars attempting to influence American policy on the disputed territory of Kashmir with campaign donations to members of Congress and…
Continue reading …Rescuers are continuing to hunt for hikers believed to have been swept into the thundering Vernal waterfalls in Yosemite National Park. Several witnesses called for help after spotting a man and woman climbing over a waterfall safety rail, reports KSEE 24 News . The couple appeared to be encouraging their children…
Continue reading …They watch so you don’t have to. But which shows do TV critics admit to overlooking – and which reviews do they stand by? What is the point of TV critics? It’s a question which has been asked countless times: sometimes in anger, sometimes in despair, sometimes out of genuine interest. Are they there to educate, inform and enlighten? To help posit a general case as to whether something is good or not based on their own personal views? Or are they there simply to be funny and amuse their audience? A A Gill thinks he knows. “The purpose of the TV critic,” the Sunday Times’s man in front of the box solemnly told this year’s Sheffield documentary festival, “Is to sell newspapers.” Gill says he writes for his readers, even though he admits he is not quite sure who they are. He doesn’t really rate his fellow critics (Ally Ross of the Sun excepted) and believes most have been put in their jobs by editors “who don’t know what to do with them except to have a colour writer of some sort”. But are TV critics prepared to admit when they got something wrong? Or have they ever got something unbelievably right when the rest of the world was too bovine or glass-eyed to see it? “I know you all love it, and I’m willing to accept that not loving it is my loss,” Gill wrote in 2008 when forcing himself to revisit Little Britain USA (even though he seemed to hate the later episodes even more). For him, there is an inherent unfairness in reviewing just a first episode of a television series. “Sometimes a series can get better so I do go back and say something is much better if it is. I feel that’s proper and I don’t feel diminished by it,” he told me. So we asked five of the nation’s other leading TV reviewers and writers to ‘fess up to their biggest mistakes – and the moments they thought they got it right. What did they have to say? Andrew Billen (TV critic, The Times) Biggest mistake: State of Play When I was TV critic for the New Statesman I wrote an excoriating review of the BBC’s State of Play’s first episode, only to discover the rest of the nation loved it. The next week the star letter was an excoriating review of my review, including, most humiliatingly, a critique of my analogy of the cheesy thriller’s plot to an Edam. Apparently it does not have holes in it. The writer won a pen or book token or something. I thought at the time, why don’t they just sack me the old-fashioned way. I still don’t think State of Play was all that special but it became a Hollywood film, so what do I know? Usually, however, I tend to give new things the benefit of the doubt – recently Silks and Monroe – and then discover they are really rather ordinary and the best writing has gone into the first episode. The safe thing is to give everything three stars out of five but where is the fun in that? Jaci Stephen (Soap columnist The Daily Mail, former TV critic, Mail on Sunday) Biggest Mistake: The Office When I watched the first episode off The Office, I was not sure whether it was genius or plain boring. I went with the latter, deciding that as I had seen so many bizarre and excruciating things in newspaper offices, I couldn’t see the point of simply replicating events in a far more tedious place. I still prefer Ricky Gervais’s follow-up, Extras, but have to acknowledge that The Office is a masterpiece. I didn’t get the chance to revise my opinion in print because the Mail on Sunday dropped the TV review page. That’s offices for you. I think I was right to praise the EastEnders baby swap story, even though it seemed the whole nation was up in arms about it. The quality of the acting – Jessie Wallace, in particular – pulled it off. Sam Wollaston (TV critic, The Guardian) Biggest mistake: Battlestar Galactica (probably) Well, I was lukewarm about Rev when it started, and it went on to win awards. And I was even less enthusiastic about the IT Crowd. But you know what, I stand by both of them. Rev was nice, but in a very gentle way – it didn’t really do anything that the Vicar of Dibley didn’t, it was hardly groundbreaking. I did do a bit of a U-turn on that one though. The IT Crowd is also just an old-fashioned sitcom, the humour based on misunderstandings and falling into traps. So I’m not U-turning on that. It’s lame. There are few shows I just haven’t got, or just don’t understand the humour – such as Psychoville, but then I never got The League of Gentleman either. And then there’s Battlestar Galactica, which I can see deals with people and humanity, but I have an inbuilt prejudice against – I’m a science-fictionist … Harry Venning (TV critic, The Stage) Biggest mistake: Our Friends in the North I remember putting the boot into Our Friends in the North, which then turned out to be something of a classic and a personal favourite of mine. Throughout episode one I was so focused on the heroic, but ultimately futile, attempt to transform the adult into teenagers that I failed to spot the production’s many other qualities. Daniel Craig, I remember, offered a particular challenge to the makeup department. Other regrets include pouring unrestrained scorn upon sitcom writers, whose ranks I’ve since joined. I always thought My Family was consistently funny and well written, while every other reviewer used it as a benchmark for all things bad about sitcom. But since it was pretty much critic proof anyway our opinions were totally superfluous. In fact, they usually are superfluous. Especially mine, which are printed after the programmes have been broadcast, by which time everybody has made up their minds anyway. Gareth Mclean (Radio Times’ writer-at-large and former TV critic, The Guardian) Biggest Mistake : The Lost Prince (BBC2) and The Death of Klinghoffer (Channel 4) My guiding principle in being a critic is: what do I think? And, erm, that’s it, really. Everyone thought Bonekickers was terrible, and I gave that a kick-in, but everyone but me liked Gavin and Stacey. I haven’t changed my opinion on Gavin and Stacey, it’s just a show that a lot of people really loved but I didn’t. I’m not an idiot because I didn’t like The Wire. It just didn’t engage me. You get into trouble when you write what you don’t think. The times I have done that – second-guessing other people and/or questioning myself – are the reviews I regret. In 2003, I thought Channel 4′s version The Death of Klinghoffer was dreary but thought I should like it and so described as not really my thing. I was subsequently skewered by David Herman in Prospect . (This is not me complaining about getting a bad review, by the way). The same thing happened with Stephen Poliakoff’s The Lost Prince. I watched it, thought it was plush rubbish but with everyone else raving about it, equivocated and ended up praising it. Television Drama Comedy Ben Dowell guardian.co.uk
Continue reading …British military hands over responsibility of Lashkar Gah as part of transition to end Nato combat duties in Afghanistan by 2014 One of Afghanistan’s most important cities is formally back under the control of local security forces, after a symbolic ceremony that passed responsibility from the British military. Under heavy security, the governor of Helmand province, Gulab Mangal, on Wednesday thanked the UK and other Nato nations for their commitment to fighting the Taliban, but said it was now time for Afghans to take control of the capital, Lashkar Gah. In an open letter, he also said he would never forget meeting Lucy Aldridge, the mother of the youngest British soldier to die in Afghanistan since British forces came here six years ago. William Aldridge was 18 when he died in 2009. He was killed in an IED blast in Sangin. The number of UK soldiers killed in Afghanistan in the last six years stands at 377. Mangal met Lucy Aldridge in England last year and has promised to bring her to Helmand to “see what your son made possible”. He still wears a wristband of the charity she set up after her son died. “The sacrifice of coalition forces will never be forgotten by our people,” said Mangal. “We owe all of this to the sacrifice of the soldiers and civilians from the US, UK and Denmark who have left their homes, and their families and sometimes given up their lives for this peace.” In one of a series of speeches at his official residence in Lashkar Gah, Mangal read out the names of some of the British soldiers who have died in Helmand. “We shall try to spread this transition process to other districts so that by the end of 2014 they have all gone through it,” he said. Speaking to a room full of tribal elders and senior figures from the British and US military, Mangal said Afghanistan would never have peace while Taliban leaders in Pakistan could easily cross the border. The room erupted in spontaneous applause when Ashraf Ghani, Afghan president Hamid Karzai’s special representative, said Afghanistan was reclaiming its sovereignty, and that the nation’s flag would soon be flying over the whole country once again. General John Allen, the new head of all coalition forces in Afghanistan, said he was often asked whether the deaths of so many troops and civilians had been worth it. “Those of us who wear this uniform have one answer – yes.” Not all of the Afghan guests were confident that local forces would be ready to take full control of the country’s security by the end of 2014 – the end date for Nato to have a combat role. Colonel Amin Jan of the Afghan national army said: “Three years is a very short time. It is too short. We don’t have enough equipment.” After the official speeches, a brief military ceremony culminated in six British military vehicles with troops from the 4th Scots and US marines on board leaving the parade ground to symbolise the transfer of power. The soldiers were given flowers as they left. Helmand province was a centre of the insurgency and Lashkar Gah became a violent battleground between the Taliban and Nato. Security there has improved enough for Karzai to make it one of the first – and most significant – places to enter the “transition” process. British forces will slowly draw down from the province between now and 2014, though the UK will retain a mentoring role for the Afghan police and army. British forces will only enter Lashkar Gah if the Afghan police ask them for help. Afghanistan Military Nato Nick Hopkins guardian.co.uk
Continue reading …The death of the whistleblower who landed Rupert Murdoch in trouble died last week drew a big chuckle from Glenn Beck yesterday. “Did you hear about the guy who was the whistleblower on the News of the World thing? I love this story. He woke up dead!” Beck laughs on…
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