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.
- U.S. war veteran released by North Korea returns home |
- South Korea to make announcement on air zone; expansion is anticipated |
- Pro-Europe protesters gather for rally in Kiev
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Obama defends interim Iran deal, seeks to assure Israel