Rajaratnam Indicted For Trading Scheme

Posted on 12/15/09 at 6:03pm by Eric Bosco

Galleon Group founder Raj Rajaratnam was indicted for insider trading today by a federal grand jury.

Also indicted was Danielle Chiesi, an executive at New Castle Funds.

Rajaratnam is accused of profiting on insider knowledge in the trading of shares of Intel (NASDAQ: INTC)(FREE stock trend analysis).

In October, Rajaratnam was arrested by the FBI on charges of insider trading. His arrest and indictment is part of a wider government effort to clamp down on insider trading.

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