best casino bonuses australian online casino au dollars trusted online gambling internet casino download old information online us casinos las vegas best online casino craps flash casino games mac play online vegas

Get Our Newsletter



Links

Columnists



Site Search


Entire (RSS)
Comments (RSS)

Archive Calendar

October 2009
S M T W T F S
« Sep   Nov »
 123
45678910
11121314151617
18192021222324
25262728293031

Guides

How to Become a Bounty Hunter



Feds Bust Up $20 Million Hedge Fund Insider Trading Scheme Using Wiretaps

This not only was notable for its size, but for the fact it was the first time the feds got court authorized wiretaps for Wall Street hot shots.

wall-street

BY Jose Martinez
NY DAILY NEWS STAFF WRITER
NEW YORK — A piggish hedge fund hotshot who ranks among the world’s richest men was charged by the feds Friday with making millions of dollars on insider-trading tips.

Raj Rajaratnam, the billionaire founder of the New York-based Galleon Group, was among six people charged in what federal prosecutors labeled the largest-ever hedge fund insider-trading case.

“The defendants operated in a cozy world of you scratch my back, I’ll scratch your back,” Manhattan U.S. Attorney Preet Bharara said at a news conference announcing the arrests.

Rajaratnam, who Forbes ranked as No. 559 on its 2009 list of the world’s billionaires, was snared in a $20 million insider-trading case touted by the authorities for its first-ever use of court-authorized wiretaps against Wall Street big wheels.

For Full Story


Print This Post Print This Post

Write a comment

You need to login to post comments!