Alleged Rajaratnam Cohort Strikes $2M Deal With SEC

Law360, New York (October 26, 2012, 10:23 PM EDT) -- The U.S. Securities and Exchange Commission on Friday landed a $1.75 million settlement with a former Galleon Group LLC executive who allegedly tipped off the hedge fund management firm's founder Raj Rajaratnam, allowing him to rake in illicit profits.

Before being hired at Galleon in May 2007, Kris Chellam worked for Silicon Valley technology company Xilinx Inc. In December 2006, while in prospective employment discussions with Rajaratnam, he told Rajaratnam that Xilinx was not going to meet its third-quarter projections. This allowed the convicted insider trader...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.