One late afternoon in March 2007, Sanjay Wadhwa sat at his desk transfixed by the data on his computer screen. Wadhwa was then a low-level supervisor in the Wall Street office of the U.S. Securities and Exchange Commission investigating a supposedly routine case of “cherry- picking.” The SEC had gotten a complaint that Rengan Rajaratnam, the founder of Sedna Capital Management LLC, a small hedge fund, was doling out a disproportionate share of his best trades to the beneficiaries of a “friends and family” account. It was Wadhwa’s job to figure out what was going on, Bloomberg Businessweek reports in its April 23 issue.
Rajiv Goel, a former Intel Corp. executive who testified against Galleon Group LLC co-founder Raj Rajaratnam, returned to court in a trial against the fund manager’s younger brother and told jurors he didn’t expect the siblings to swap secrets.
Anil Kumar , a former director at McKinsey & Co., said Raj Rajaratnam told him the value of his inside information to Galleon Group LLC was “diminished” because trader Danielle Chiesi 's “intimate relationship” with the head of Advanced Micro Devices Inc. made her tips more valuable.
Rengan Rajaratnam, the younger brother of imprisoned hedge-fund founder Raj Rajaratnam whose trial on insider-trading charges is scheduled for June, said U.S. prosecutors are trying to hold him responsible for trades that they pinned on his brother at his trial.
Hedge fund manager Raj Rajaratnam , after four weeks of prosecution evidence at his insider-trading trial, today gets his chance to refute a case built on wiretaps, e-mails and the testimony of former friends and colleagues.
On a sunny Friday afternoon in June 2003, Rajat Gupta was greeted at his waterfront home in Westport, Connecticut, by scores of his McKinsey & Co. partners. They had come from London, Frankfurt, New Delhi and other cities around the world -- and brought along an elephant, which they tethered on the front lawn.