Hector Ruiz, former CEO and chairman of AMD, has been fingered as a source of confidential leaks in a controversial Silicon Vally insider trading case.
According to a reports in a number of US newspapers, Ruiz – a key figure in helping arrange a multi-billion dollar Abu Dhabi investment in an AMD spinoff – may have passed on information about that deal,.
Ruiz left AMD ealier this year and become chairman of the spinoff, Globalfoundries.
He has not been charged.
Earlier this month, the Department of Justice filed documents identifying an AMD executive as the possible lead, and AMD denied knowing the identity of the person.
So far, six people have been charged with conspiracy and securities fraud in a case which allegedly saw about $20-million being earned in stock profits resulting from confidential information being accessed. Companies whose stock may have been involved include Google, Intel and AMD.
Ironically, Ruiz might not have benefited from the alleged trades and may not even have known information would be used for insider trading.