Rajaratnam Brother Denies Insider Trading

Law360, New York (March 25, 2013, 6:46 PM EDT) -- Rajarengan Rajaratnam, the younger brother of jailed hedge fund founder Raj Rajaratnam, pled not guilty Monday to charges that he used confidential information to trade ahead of a $1 billion Intel Corp. deal.

Manhattan federal prosecutors claim the younger Rajaratnam was a member of a sprawling network of insider traders centered on his older brother, the founder of hedge fund company Galleon Group LLC. Rajaratnam, 42, denied the insider trading charges at a brief hearing before U.S. District Judge Naomi Buchwald.

“Not guilty, your honor,” he...
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