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Galleon boss Rajaratnam found guilty of insider trading

On May 12, 2011, in Insider Trading, by Editor

US hedge fund billionaire Raj Rajaratnam has been found guilty of making tens of millions of dollars from insider trading. – BBC News The unanimous verdict, which he plans to appeal, ends an eight-week trial in what prosecutors call the largest hedge fund insider trading case in history. “The attorney general’s office has charged 47 […]

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Rajaratnam verdict marks significant government victory

On May 12, 2011, in Insider Trading, by Editor

“Like so many others recently, he let greed and corruption cause his undoing.” That was the conclusion of the prosecutor behind the trial of hedge fund billionaire Raj Rajaratnam. – By Caroline Hepker, BBC News, New York The guilty verdict against Rajaratnam, on sweeping insider trading charges, is a significant victory for the US government. […]

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Ex-Goldman Sachs director charged with insider trading

On March 1, 2011, in Insider Trading, by Editor

A former Goldman Sachs board member has been charged with insider trading. – BBC News The US Securities and Exchange Commission said Rajat Gupta leaked details about Warren Buffett’s $5bn (£3bn) investment in Goldman in 2008 to Galleon Group founder Raj Rajaratnam. “The financial watchdog said that Mr Rajaratnam used the tip-off about the investment […]

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IBM executive Robert Moffat guilty of insider trading

On September 13, 2010, in Insider Trading, by Editor

IBM executive Robert Moffat has been given six months in jail and a $50,000 (£32,000) fine for his part in the US’s biggest hedge fund insider trading case. – The BBC, UK Moffat, once tipped as a future chief executive, had worked for 30 years at IBM when he was arrested last October. He was […]

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Giant fraud insider trading case director pleads guilty

On January 8, 2010, in Insider Trading, by Editor

Anil Kumar, a former director of global management consulting firm McKinsey, has pleaded guilty to fraud charges. – BBC News He says he made $2.6m (£1.6m) giving inside market information to one of America’s richest men, Raj Rajaratnam. Prosecutors allege a list of crimes, including that Mr Rajaratnam paid Kumar between $1.7-$2m for his tips. […]

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