Monday, October 19, 2009

Six charged by Federal prosecutors

Federal prosecutors have charged a prominent hedge-fund manager and five
others with securities fraud resulting from insider trading involving some
of the tech industry's best-known companies, including Intel, Google, and
IBM.

Raj Rajaratnam of Galleon Group was arrested Friday in New York according
to various reports and charged with 13 counts of securities fraud and
conspiracy following a FBI investigation into Galleon Group's trading
patterns. Also charged in the complaint, filed in U.S. District Court for
the Southern District of New York, were co-conspirators Rajiv Goel of Intel
and Anil Kumar of McKinsey, which provided consulting services to AMD.