Feds Question BofA Merrill on Rajaratnam Relationship

Fox – Federal investigators have questioned executives at Bank of America’s Merrill Lynch brokerage unit about the firm’s relationship with Galleon founder Raj Rajaratnam, who is accused of committing securities fraud by earning millions of dollars of illegal profits by trading on insider information, the FOX Business Network has learned.

Rajaratnam had a relationship with at least one senior broker at the firm, Sanjay Patel. At one point, Rajaratnam, Patel and their families together went on vacation to Jamaica.

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Read more: http://www.foxbusiness.com/markets/2011/03/30/feds-question-bofa-merrill-broker-rajaratnam-relationship/#ixzz1IAq3ysYC

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