Rajaratnam Indicted For Trading Scheme
By Eric Bosco
December 15, 2009 5:03 PM
December 15, 2009 5:03 PM
Symbols: INTC
Posted in: Hedge Funds
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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