Hector Ruiz certainly led a checkered career as CEO of AMD, earning the highest CEO salary in the semiconductor industry as his company's stock dropped, its products dragged, and its fortunes sank, but the man didn't stop there -- it looks like he may also have been involved in a little illegal insider trading on the side. According to the Wall Street Journal, Ruiz is the heretofore unnamed AMD executive who illegally tipped off a hedge fund investor about the company's big spinoff of Globalfoundries, ultimately leading to criminal and civil charges against Galleon and six of its employees. Ol' Hec's currently in the clear, as he hasn't been charged with anything, but considering he's now the chairman of Globalfoundries, well, let's say things are about to get a little sticky. We'll let you know -- we've got a feeling Gizmondo's Stefan Eriksson is going to look like small potatoes when this is all over.Ex-AMD chief Hector Ruiz caught up in insider-trading scandal
N. Patel|10.28.09
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October 28th, 2009
In this article: amd, crime, criminal, galleon, galleon group, GalleonGroup, globalfoundries, hector ruiz, HectorRuiz, insider trading, InsiderTrading, stock, stocks
Hector Ruiz certainly led a checkered career as CEO of AMD, earning the highest CEO salary in the semiconductor industry as his company's stock dropped, its products dragged, and its fortunes sank, but the man didn't stop there -- it looks like he may also have been involved in a little illegal insider trading on the side. According to the Wall Street Journal, Ruiz is the heretofore unnamed AMD executive who illegally tipped off a hedge fund investor about the company's big spinoff of Globalfoundries, ultimately leading to criminal and civil charges against Galleon and six of its employees. Ol' Hec's currently in the clear, as he hasn't been charged with anything, but considering he's now the chairman of Globalfoundries, well, let's say things are about to get a little sticky. We'll let you know -- we've got a feeling Gizmondo's Stefan Eriksson is going to look like small potatoes when this is all over.All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
