Grand jury indicts Galleon founder, New Castle Funds exec

12/16/2009 | Bloomberg

A U.S. grand jury indicted Galleon Group founder Raj Rajaratnam and New Castle Funds executive Danielle Chiesi on charges related to insider trading. The indictment lists 11 counts of securities fraud and conspiracy for Rajaratnam and 10 counts for Chiesi. More than $20 million in profit was illegally generated, according to the indictment. "Mr. Rajaratnam is innocent and looks forward to his day in court when a jury of his fellow citizens will examine and evaluate all of the evidence," said his lawyer, John Dowd.

View Full Article in:

Bloomberg

Published in Brief: