Galleon chief was probed decade ago: WSJ

Galleon chief was probed decade ago: WSJ
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First Published: Fri, Dec 04 2009. 11 09 AM IST

Galleon Group founder Raj Rajaratnam. Bloomberg (File Photo).
Galleon Group founder Raj Rajaratnam. Bloomberg (File Photo).
Updated: Fri, Dec 04 2009. 11 09 AM IST
New York: Federal prosecutors investigated Galleon Group hedge fund founder Raj Rajaratnam on suspicions of insider trading more than a decade before he was charged with securities fraud, the Wall Street Journal reported, citing legal filings.
Galleon Group founder Raj Rajaratnam. Bloomberg (File Photo).
However, the prosecutors were unable to prove their suspicions, the paper said.
The investigation stemmed from suspicions that arose in the 1990s within chip maker Intel Corp that Rajaratnam was receiving tips from an Intel insider.
Intel could not immediately be reached for comment by Reuters outside regular US business hours.
The Sri Lankan-born billionaire was arrested on 16 October and accused by prosecutors of generating millions of dollars of illegal profits in the largest US hedge fund insider trading case on record.
Rajaratnam has denied the charges.
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First Published: Fri, Dec 04 2009. 11 09 AM IST