Rajaratnam, Chiesi Indicted In Galleon Fraud Case

Law360, New York (December 15, 2009, 7:25 PM EST) -- A federal grand jury has indicted billionaire hedge fund manager Raj Rajaratnam and former New Castle Funds LLC employee Danielle Chiesi on multiple counts of conspiracy and securities fraud, the latest development in what prosecutors have dubbed the biggest hedge fund insider trading case in history.

The 17-count indictment, filed in the U.S. District Court for the Southern District of New York, also says the government is seeking to have Rajaratnam and Chiesi forfeit the proceeds from the alleged securities fraud offenses, believed to be at...
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