Insider Trading Case Casts A Wide Net

Check out the federal complaint for insider trading against hedge fund manager Raj Rajaratnam of Galleon Management and several other people, including some of my Silicon Valley neighbors.

Rajiv Goel, managing director at Intel Capital, has been charged in this case, as has Anil Kumar, director at McKinsey; Robert Moffatt, senior vice president at IBM; and Danielle Chiesi and Mark Kurland at New Castle hedge fund.

They allegedly swapped and traded on insider information about Google, Intel, Clearwire, AMD, Akamai, IBM, Sun and several other companies, generating over $20 million in profits. Information on Blackstone’s leveraged buyout of Hilton Hotels was also spilled, allegedly, by analysts at Moody’s.

The government claims it’s the largest hedge fund insider trading case in history, broken by a cooperating witness who helped the FBI wiretap calls. Here also are the SEC’s and FBI’s press releases.

The scope of this case is breathtaking.

Insider Trading Charges Against Galleon Group Founder

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