Secret recordings of Rengan Rajaratnam talking with his brother, hedge fund billionaire Raj Rajaratnam, prove the two engaged in an insider-trading scheme, prosecutors said at the start of a trial in New York.
Ex-Galleon Group LLC trader Rengan Rajaratnam’s jury was picked for an the insider-trading case in which the U.S. says he used illegal tips provided by his older brother, imprisoned billionaire fund manager Raj Rajaratnam.
When Rengan Rajaratnam started Sedna Capital Management LLC, he named the hedge fund after a newly discovered dwarf planet on the edge of the solar system, reflecting his focus on small-cap businesses unnoticed on Wall Street.
SAC Capital Advisors LP founder Steven Cohen told U.S. regulators a decision to sell shares at the heart of a $276 million dollar insider-trading case going to trial next month was based on advice from outside his firm.
Lloyd Blankfein is sticking by Steven Cohen through thick and thin. While other banks have drifted away from the personal credit lines they’ve given Cohen since, well, you know, Goldman Sachs appears never to have wavered.
In the end, billionaire Steven Cohen, one of the most successful hedge-fund managers of his generation, could end up getting banned from the business he dominated for an error of omission, not commission.