lunes, 7 de marzo de 2011
Inside trade trial offers new look at Wall Street
NEW YORK (AP) -- A Manhattan insider trading trial promises to put the game of making money on Wall Street in a fish bowl like never before.
Jury selection starts Tuesday in the case of Raj Rajaratnam (rah-juh-RUHT'-nuhm), a one-time billionaire who sat atop the hedge fund world until he was arrested on federal charges.
He is accused of making more than $50 million by trading on secret information in the stock market. He has pleaded not guilty.
The jury is expected to hear dozens of secretly taped conversations between the founder of the Galleon Group and partners in the hedge fund industry.
Rajaratnam has remained free on $100 million bail since his October 2009 arrest.
Authorities brought charges against two dozen others in the probe. Nineteen have pleaded guilty.