Raj Rajaratnam, Galleon Group, Galleon Hedge Fund Boss Arrested for Insider Trading
Submitted by Parasshuram Shalgar on Friday, 16 October 2009No Comment
Raj Rajaratnam, founder of the Galleon Group , galleon hedge fund and five others have been arrested on charges of insider trading.
Raj Rajaratnam was born in SriLanka
these people are allegedto have made about $20m (£12m) in illegal profits thru insider trading.
According to reports these people have secured inside information about firms including Google, AMD, and Hilton Hotels.
Forbes magazine this year had mentioned Rajaratnam in one of its rich lists and gave an estimate that he is worth US $1.3bn.
The insider trading is reportedly happened between Jan 2007 and July 2007.
the Galleon Group manages upto $7bn in assets under its management
Leave a comment!