LAH man sentenced for insider trading
Los Altos Hills resident Rajiv Goel was sentenced to two years probation for his part in an insider trading ring that made national headlines. In 2011, Goel served as a key witness in the Securities and Exchange Commission’s case against Raj Rajaratnam and his hedge fund advisory firm, Galleon Management. Rajaratnam and Galleon used insider information from Goel, among others, to obtain advance notice of earnings and takeover announcements and invest accordingly, making more than $23 million in illegal trades. Goel worked as a managing director at Intel Capital, an Intel subsidiary.
Judge denies Feathers’ funding request
The judge hearing the Securities and Exchange Commission’s fraud case against Mark Feathers denied the Los Altos resident’s request to unfreeze funding for legal expenses. Judge Edward Davila rejected Feathers’ request for an initial payment of $375,000 for his legal defense from the business assets currently overseen by a court-appointed receiver. Feathers maintains that his business contracts explicitly allowed for payment of legal fees. The SEC argued that Feathers should not access “other people’s money,” that is, investor funds that make up the business’ assets. Davila ruled that Feathers’ indemnity contract does not apply in the event of fraud, and thus ruled against disbursing funds from the business account. The judge did order the receiver to maintain an account that could be used to pay attorneys fees should Feathers succeed in the trial, but he noted that until that might happen, Feathers has no constitutional right to counsel, as this is a civil case.
Oct. 3, 11:03 a.m., 100 block of S. Gordon Way: A homeowner contacted police after discovering that political signs had been removed from his front lawn. The homeowner declined to file a report.
Oct. 3, 11:50 a.m., 500 block of Hawthorne Avenue: An unknown suspect broke in through a bedroom window and stole jewelry. Oct. 3, 3:47 p.m., 400 block of Cecilia Way: A suspect kicked in the rear door of a home, stealing electronics and jewelry. Oct. 3, 5:29 p.m., 200 block of W. Edith Avenue: A bicycle valued at $12,000 was stolen from an open garage. Oct. 3, 6:18 p.m., 1500 block of Wessex Avenue: According to police, someone gained access to a home through a window and stole electronic items. Oct. 3, 7:02 p.m., 200 block of Pine Lane: An unknown suspect entered a home through an unlocked window and stole a laptop computer, as well as a handful of personal checks.
Oct. 4, 6:30 p.m., 700 block of Casita Way: Police responded to a report of a couple engaged in a verbal disagreement. No report was taken.
Theft from vehicle
Oct. 5, 9:11 a.m., 500 block of Portola Avenue: A resident reported that someone stole a laptop and other electronics from their unlocked vehicle.
Oct. 6, 12:08 a.m., N. San Antonio Road and Chester Circle: A 20-year-old motorist was arrested and cited for driving under the influence during a traffic stop. – Diego Abeloos and Eliza Ridgeway