Hedge Fund Founder Nabbed for Insider Trading

Raj Rajaratnam's $3B Galleon Group trades tech stocks
By Harry Kimball,  Newser Staff
Posted Oct 16, 2009 11:03 AM CDT
Hedge Fund Founder Nabbed for Insider Trading
The Securities and Exchange Commission (SEC) headquarters in Washington.   (AP Photo)

The founder of a $3 billion hedge fund and two other financial executives have been charged with insider trading, the Business Insider reports. Raj Rajaratnam, whose Galleon Group focuses on high tech stocks, was charged with conspiracy and fraud related to trades of Hilton and Google stock, among others. Execs from Intel Capital and McKinsey have also been charged in the in the scheme, which authorities say goes back to 2006. Rajaratnam was arrested yesterday. (Read more Raj Rajaratnam stories.)

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