SEC Charges "Rengan" Rajaratnam with Insider Trading

The SEC charged Rajarengan "Rengan" Rajaratnam for his role in the insider trading scheme allegedly spearheaded by his older brother Raj Rajaratnam and involving hedge fund advisory firm Galleon Management. The SEC has now charged 33 defendants in its Galleon-related enforcement actions. The alleged insider trading occurred in the securities of more than 15 companies for illicit gains totaling more than $96 million.

See: SEC Complaint.Related News: "California Hedge Fund Manager Agrees to $1.8 Million Settlement in Raj Rajaratnam Insider Trading Case" (March 20, 2013) and "SEC Obtains Final Judgment on Consent as to Raj Rajaratnam" (December 27, 2012).