IBM Exec, Others Arrested In $20M Insider Trading Case

By Hilary Russ

Law360, New York (October 16, 2009, 5:25 PM ET) -- Federal prosecutors have charged a senior executive at IBM Corp., along with billionaire and Galleon Group founder Raj Rajaratnam, in a $20 million hedge fund insider trading case believed to be the largest of its kind in history.

They were among six people arrested Friday and charged in the U.S. District Court for the Southern District of New York with conspiracy and securities fraud for allegedly cashing in on tips from major hedge funds, publicly traded companies and investor relations firms between January 2006 and July...
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