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RPT-Galleon Group founder's brother charged with insider trading
March 21, 2013 / 7:31 PM / 5 years ago

RPT-Galleon Group founder's brother charged with insider trading

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.

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