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.
- Seven NATO allies to create new rapid reaction force-report
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis |
- U.S. authorities investigate suspected threat against Obama: reports
- Putin says Russia must strengthen its economic, military position in Arctic
- California passes plastic bag ban, would be first such law in U.S