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Posted by Sharon Anderson on Monday, February 10, 2014

Saturday, October 17, 2009

City St.Paul_Capitolism on Life Support

Article Excerpt

Six Charged in Vast Insider-Trading Ring

In a case echoing the scandals of the 1980s, federal authorities exposed what they claim is the biggest insider-trading ring in a generation -- a conspiracy in which a hedge-fund kingpin and executives at blue-chip firms including IBM and Intel allegedly connived to profit on Google and other big-name stocks.

At the center was Raj Rajaratnam, founder of Galleon Group, a New York-based fund firm that manages $3.7 billion. A native of Sri Lanka, he spent years carving a reputation as a meticulous investor in technology stocks, building a fortune estimated at $1.5 billion.

Mr. Rajaratnam, 52 years old, was ...

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