Trial starts for ex-hedge fund owner's brother

Tags: News
An insider trading trial is set to start in New York for the brother of an imprisoned one-time billionaire hedge fund founder.

Rengan Rajaratnam goes on trial today, three years after his brother was convicted in Manhattan federal court on insider trading charges. The brother, Raj Rajaratnam, is serving an 11-year prison sentence. The Supreme Court yesterday declined to hear further appeals of his case.

Rengan Rajaratnam has pleaded not guilty to securities fraud charges. The charges against him are an extension of charges brought against his brother and two dozen other defendants who pleaded guilty or were convicted at trial. Prosecutors made extensive use of wiretaps in an insider trading case for the first time during the federal probe, which began over six years ago.

EDITORIAL OF THE DAY

  • The Muslim Personal Law Application Act needs an overhaul

    Triple talaq or khola as means to divorce or dissolve one’s marriage in the Muslim community is unacceptable, as the Allahabad High Court judgment s

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

<b>Disequilibrium:</b> THE GREAT GAMBLE

Finance it is said is merely a gun, politics is ...

Ananda Majumdar

<b>Ruminations:</b> BJP looks beyond muscular strategy

Gradually a new strategy for political management has been established ...

BK Chaturvedi

Committed, yet miles to go

Swachh Bharat is a mission to which everyone is committed. ...