Former IBM exec Robert Moffat faces sentencing today

Local Tech Wire

RESEARCH TRIANGLE PARK, N.C. – Robert Moffat, once thought to be a leading candidate to become chief executive officer at IBM (NYSE: IBM) faces sentencing today in New York for his role in an insider trading case.

Moffat has already to commit securities fraud.

Moffat admits to having a sexual relationship with Danielle Chiesi, the executive at hedge fund Galleon who is accused of turning information about IBM and AMD that Moffat provided into profits.

Prosecutors want him to serve six months in prison.

Moffat is seeking probation.

Moffat, 53, lives in Ridgefield, Conn.

His lawyers say an intimate relationship with a hedge fund company employee who later "played" him led Moffat to feed her confidential information.

Prosecutors say his crimes were committed out of a misguided belief he could never be caught.

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(The Associated Press contributed to this report.)