Hedge Fund Scam

  • Rajaratnam gets 11 years jail for insider trading October 14, 2011

    Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation. ...
  • Judge denies Rajaratnam's bid to toss conviction August 17, 2011

    New York: Galleon Group hedge fund founder Raj Rajaratnam has lost a bid to have his conviction thrown out after he was found guilty on insider trading charges in May. US District Court Judge Richard Holwell on Tuesday denied Rajaratnam's renewed attempt for a judgment of acquittal on his conviction by...
  • Rajaratnam to be heard at next insider trial May 17, 2011

    New York: Convicted hedge fund tycoon Raj Rajaratnam is no longer on trial, but his voice is going to be heard again in court on at least one phone tap in the trial of his former employee, Zvi Goffer, potential jurors were told on Monday. Rajaratnam's name dominated the questioning of...
  • Rajaratnam convicted in insider trading case May 12, 2011

    New York: Raj Rajaratnam, the hedge fund boss accused of insider trading, was found guilty on Wednesday by a federal jury in New York of conspiracy and securities fraud. The conviction, announced in Manhattan federal court, is a significant victory for federal prosecutors, who have been cracking down on insider trading...
  • Rajaratnam trial: judge excludes video evidence April 5, 2011

    New York: A US judge hearing the insider trading case involving Raj Rajaratnam on Tuesday ruled that the prosecution could not submit as evidence video-surveillance footage that shows a former Intel Corp employee faxing confidential information to the Galleon group founder. Judge Richard Holwell ruled against the admissibility of the footage...
  • Rajratnam made frantic calls on Goldman tip-trail May 18, 2011

    New York: Fund manager Raj Rajaratnam made $1 million in two minutes of frantic calls after receiving an inside tip about a big investment in Goldman Sachs Group Inc at the height of the financial crisis, prosecutors said at the Galleon founder's insider trading trial. In the biggest Wall Street insider...
  • Goldman CEO says ex-director spilled secrets March 24, 2011

    New York: Goldman Sachs Group Inc chief Lloyd Blankfein testified that a former director at Wall Street's most powerful bank violated confidentiality by leaking boardroom secrets to hedge fund manager Raj Rajaratnam. Blankfein was called to testify by prosecutors in Manhattan federal court about Goldman's results in 2008, and a crucial...
  • Rajaratnam's secretly recorded calls released March 12, 2011

    New York: Prosecutors in the US' biggest insider trading case have released tapes of conversations between main suspect Raj Rajaratnam and four of his alleged co-conspirators, including two of Indian origin, in which he was allegedly receiving or directing stock tips. The secretly recorded telephone calls of 53-year-old Sri Lanka-born billionaire...
  • Rajaratnam tapes to get lots of play at trial March 12, 2011

    New York: Regardless of whether Hedge Fund chief Raj Rajaratnam ends up testifying at his criminal trial, jurors are going to hear a lot from him. Testimony resumes on Monday in the biggest Wall Street insider trading trial in decades, with New York prosecutors expected to play more of the Galleon...
  • Morgan Stanley banker gave info to Rajaratnam January 22, 2011

    New York: US prosecutors said a Morgan Stanley banker leaked information regarding an upcoming takeover that ultimately was passed on to Galleon Group LLC founder Raj Rajaratnam, who faces insider trading charges. Prosecutors also unveiled on Friday a new indictment against Rajaratnam, which added a new securities fraud count and named...
  • Hedge fund operator Rajaratnam pleads not guilty in US December 22, 2009

    New York: Wealthy hedge fund operator Raj Rajaratnam and a co-defendant pleaded not guilty on Tuesday to charges that they were major players in a scheme that used inside information to make stock trades that generated millions of dollars in profits. Prosecutors, who have described the...
  • US insider trading probe ensnares 14 more November 6, 2009

    New York: Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers. In complaints that read like scripts for the TV series The Sopranos, investigators alleged suspects dropped...
  • Tamil billionaire's arrest puts Sri Lanka on guard October 19, 2009

    Colombo: A Sri Lankan-born billionaire's arrest in the largest US hedge fund insider trading case triggered new scrutiny on Monday in his native country over the possibility his money found its way to Tamil rebels. US authorities on Friday charged Raj Rajaratnam, the 52-year-old founder of the Galleon Group hedge fund,...