Brother of imprisoned hedge fund founder faces his own trial
NEW YORK, N.Y. - 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 (RAIN-ghin rah-juh-RUHT'-nuhm) goes on trial Tuesday, 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 on Monday 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.
Read more Business News
- Storm kills powerCentral Okanagan - 5:33 pm
- Hwy. 1 closed east of SicamousBC - 8:14 pm
- Rain shuts down cityKamloops - 4:15 pm
- Storm photo galleryCentral Okanagan - 4:44 pm
|QHR Technologies Inc||1.15||-0.04|
|Anavex Life Sciences||0.325||-0.005|
|Copper Mountain Mining||2.76||-0.07|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.19||+0.01|
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...
Big Picture Euro debt woes re-emerge Europe’s debt woes jumped back into the headlines this week trumping other economic, geopolitical and corporate developments. Word that one of Portugal&rsquo...