November 6, 2009

14 Charged in Insider Trading

More arrests in the high profile Galleon case came today, with 14 charged in the insider trading sting.

The case, that centers around famous hedge fund manager and financial analyst Raj Rajaratnam, now has over 20 people facing charges or being investigated for connections to this insider trading operation that brought huge profits in the financial sector for its alleged members. An informant from inside the alleged Wall St creime ring gave information that led to these arrests, for securities fraud and other related crimes based on using inside info illegally as financial advice that gives an unfair advantage in playing the stock market.

14 Charged in Insider Trading

Criminal charges have been filed against 14 people, including attorneys and Wall Street professionals, in a widening $53 million insider trading case that has already snared one of the richest men in America, federal prosecutors said Thursday...Rajaratnam has denied through his lawyer participating in the scheme to use inside information to trade stocks at a profit ahead of public announcements....

14 Charged in Insider Trading

Posted at November 6, 2009 3:13 AM

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