Galleon Insider Trades Netted $64M, FBI Says

Law360, New York (April 6, 2011, 8:14 PM EDT) -- Prosecutors in the New York insider trading case against Galleon Group LLC founder Raj Rajaratnam on Wednesday finally put a price tag on the hedge fund chief's alleged illicit trading: $64 million.

That number represents about $53.8 million in total profits earned — and around $9.9 million in losses avoided — from trades the Galleon chief made on insider information, FBI special agent James C. Barnacle Jr. testified on Wednesday before a jury in the U.S. District Court for the Southern District of New York....
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