Raj Rajaratnam of Galleon Group Arrested for Insider Trading

Posted by Parasshuram on October 16th, 2009 in America | No Comments

http://4.bp.blogspot.com/_rZzaj3ljXEc/SOVSbSqrQ5I/AAAAAAAAA94/-nLgZneyG50/s320/RajAH0207.gifRaj 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


 

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