raj rajaratnam

raj rajaratnam

Raj RAJARATNAM, and five others were arrested and charged 20 million U.S. dollars in an insider trading case, prosecutors said. According to court documents, Mr. Rajaratnam, founder of 7 billion U.S. dollars galleon Group and Portfolio Manager for the galleon Technology fund, was charged with four counts of conspiracy and eight counts of securities fraud.

Others charged criminally in the case include Rajiv Goel, director in strategic investments at Intel Corp.'s investment arm; Anil Kumar, a director at global management-consulting firm McKinsey & Co.; Danielle Chiesi and Mark Kurland of New Castle Partners LLC, the one-time equity hedge fund group at Bear Stearns Asset Management Inc.; and Robert Moffat, a senior vice president at International Business Machines Corp. A call to Galleon Group wasn't immediately returned Friday. Preet Bharara, the U.S. Attorney in Manhattan, is expected to discuss the case in more detail at a press conference at 1 p.m. EDT Friday.

Mr RAJARATNAM taxes are placed in the middle of some people in trade, in which he allegedly caused the money to operate Galleon information or advice to give to others. In one case, prosecutors assert that Mr. RAJARATNAM, between January 2006 and July 2007, will receive non-public information about Polycom Inc., Hilton Hotels Corp. and Google Inc. and Galleon Technology has generated funds for the trades on that information was incorrect. As a consequence, Galleon Fund was more than 12.7 million U.S. dollars, said the prosecutor.