Hedge Funds
Insider Trading Arrests Rock Wall Street
NEW YORK (TheStreet) -- Even as Oliver Stone shoots scenes from his Wall Street sequel in Manhattan's financial district, hedge-fund manager Raj Rajaratnam, one of the nation's wealthiest people, was arrested Friday on charges of insider trading.
Rajaratnam, founder of the Galleon hedge fund, is alleged to have conspired with six other people to make illegal trades -- some of which involved shares of Google(GOOG) and IBM(IBM) -- that brought in $20 million in profits, according to prosecutors in the U.S. attorney's office for the Southern District of New York.![]() |
| Raj Rajaratnam, billionaire founder of the Galleon Group, a major hedge fund, is led in handcuffs from FBI headquarters. |
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