HispanicBusiness

Hector Ruiz, former CEO and chairman of Sunnyvale chip company Advanced Micro Devices, has been identified as the executive accused of leaking AMD information to a group of insider-trading conspirators.

Ruiz, a key figure in helping arrange a $2.1 billion investment by Adu Dhabi investors in an AMD spinoff, passed on confidential information about that deal, according to report Tuesday by the Wall Street Journal, which cited a single unnamed source.

Ruiz, who left AMD this year to take over as chairman of the spinoff called GlobalFoundries, has not been charged. He could not be reached for comment.

Executives at AMD and GlobalFoundries have declined to comment in detail about the insider trading case announced two weeks ago by federal authorities, who characterized it as the biggest such scheme involving hedge-funds that has ever been prosecuted.

"It would be inappropriate to comment on an ongoing Department of Justice investigation," said AMD spokesman Michael Silverman, who added that the chip company still has not been able to determine the identity of the AMD executive mentioned in the criminal complaints filed in the case. "We're continuing to evaluate the matter and we're not aware of any allegation of criminal misconduct on the part of any AMD or former AMD executives."

GlobalFoundries spokesman Jon Carvill said of Ruiz, "Hector would be unavailable to comment," add ing that GlobalFoundries also could not discuss the matter because allegations in the complaint happened before Ruiz joined GlobalFoundries.