Galleon Group founder's brother charged with insider trading
NEW YORK, March 21
NEW YORK, March 21 (Reuters) - The brother of convicted Galleon Group founder Raj Rajaratnam was indicted Thursday on insider trading charges.
Prosecutors said Rengan Rajaratnam, 42, allegedly conspired with his brother to trade on non-public information concerning Clearwire Corp and Advanced Micro Devices, Inc in 2008.
Rengan was a former portfolio manager at Galleon. The trades resulted in nearly $1.2 million in profits, according to the Manhattan U.S. Attorney's Office.
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Carnage at U.N. school as Israel pounds Gaza Strip |
- U.S. economy back on track with strong second-quarter rebound |
- Argentine debt talks down to the wire to avert default
- EU and U.S. announce new sanctions on Russia over Ukraine |