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Message: <blockquote data-quote="lkdood" data-source="post: 5697937" data-attributes="member: 92282"><img src="http://images.forbes.com/media/lists/54/2009/raj-rajaratnam.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />A leading US hedge fund boss and five other people have been arrested on charges linked to insider trading.Sri lankan Born Raj Rajaratnam, founder of the Galleon Group, and the other defendants, are alleged to have pocketed about $20m (£12m) in illegal profits. They are said to have secured inside information regarding firms including Google, AMD, and Hilton Hotels. Prosecutors in New York have charged the four men and one woman with conspiracy and securities fraud. Earier this year, Forbes magazine featured Mr Rajaratnam on one of its rich lists and estimated that he was worth $1.3bn. Prosectors claimed the insider trading also took place at the New Castle hedge fund and Intel Capital, the investment arm of microchip giant Intel. The others charged in the case include Rajiv Goel, a director of strategic investments at Intel Capital; and Robert Moffat, senior vice president in the systems and technology division of computer group IBM. They are joined by Anil Kumar, a director at global management-consulting firm McKinsey & Co; and Danielle Chiesi and Mark Kurland of New Castle Partners. Mr Rajaratnam's insider trading is said to have taken place between January 2007 and July 2007. Galleon Group has up to $7bn in assets under its management. <a href="http://news.bbc.co.uk/1/hi/business/8311446.stm" target="_blank">BBC</a><a href="http://news.bbc.co.uk/1/hi/business/8311446.stm" target="_blank"></a><a href="http://news.bbc.co.uk/1/hi/business/8311446.stm" target="_blank"></a>UPDATE:According to court documents, Rajaratnam, the founder of the Galleon Group and portfolio manager for the Galleon Technology Funds, has been charged with four counts of conspiracy and eight counts of securities fraud.<a href="http://online.wsj.com/article/BT-CO-20091016-710167.html" target="_blank">WSJ</a>video[YOUTUBE]<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/JIuuXQntkI0&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/JIuuXQntkI0&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>[/YOUTUBE]according to forbes magazine Raj Rajaratnam has a net worth of $1500 million ($1.5 billion) <img src="/styles/default/xenforo/smilies/default/shocked.gif"  class="smilie" loading="lazy" alt=":shocked:" title="Shocked    :shocked:" data-shortname=":shocked:" />“We tend to forget that happiness doesn't come as a result of getting something we don't have, but rather of recognizing and appreciating what we do have.”- Frederick Koenig<img src="/styles/default/xenforo/smilies/default/rolleyes.gif"  class="smilie" loading="lazy" alt=":rolleyes:" title="Rolleyes    :rolleyes:" data-shortname=":rolleyes:" /><img src="/styles/default/xenforo/smilies/default/rolleyes.gif"  class="smilie" loading="lazy" alt=":rolleyes:" title="Rolleyes    :rolleyes:" data-shortname=":rolleyes:" /></blockquote>

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