UPDATE 1-Accused Galleon fund founder meets bond conditions

Thu Oct 22, 2009 1:31pm EDT

* Rajaratnam puts up Manhattan apartment

* Criminally charged along with five others

NEW YORK Oct 22 (Reuters) - Billionaire Galleon hedge fund founder Raja Rajaratnam, criminally charged in what U.S. authorities describe as the biggest hedge fund insider trading case ever, met the conditions of his $100 million bond on Thursday, a spokesman said.

Rajaratnam, 52, signed a document known as "a confession of judgement" in the Manhattan federal court, putting up his luxurious apartment on Manhattan's Upper East Side.

He was released on $100 million bond on Friday evening after U.S. prosecutors and the FBI charged him and five others in a criminal complaint of running an insider trading network that made more than $20 million in illegal profits.

"Mr Rajaratnam has met the conditions of his bail," said Dan Gagnier, one of his spokesmen.

The case is USA v Rajaratnam et al, U.S. District Court for the Southern District of New York, No. 09-2306 (Reporting by Grant McCool; editing by Andre Grenon)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.