Raj Rajaratnam, Galleon Group founder, has been arrested on charges that he orchestrated a $20 million insider trading case. The prosecutor said Raj Rajaratnam was charged with the largest hedge fund insider trading case.

Raj Rajaratnam is originally a Tamil from Sri Lanka. Rajaratnam is a Democrat and staunch supporter by way of his enormous donations. The billionaire was arrested and led away in handcuffs by the FBI.

There are hackers posting fake Rajaratnam videos linked to a website called Malecafe. Anyone clicking on Malecafe may be activating spyware code that hacks into computers.

The others who are allegedly conspirators with Rajaratnam are:
Rajiv Goel, director in strategic investments at Intel Corp.’s (INTC) investment arm;
Anil Kumar, a director at global management-consulting firm McKinsey & Co.;
Danielle Chiesi and Mark Kurland of New Castle Partners LLC,
and Robert Moffat, a senior vice president at International Business Machines Corp. (IBM).

Rajaratnam, Goel, Kumar, Chiesi, Kurland and Moffat allegedly obtained $25 million through illicit gains from their insider trading. These individuals’ companies claimed they wer unaware of their employees being involved with any criminal activity.

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This entry was posted on Friday, October 16th, 2009 at 3:46 pm and is filed under Gossip.