{"id":35387,"date":"2013-05-09T08:09:55","date_gmt":"2013-05-09T12:09:55","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=35387"},"modified":"2013-05-09T08:12:31","modified_gmt":"2013-05-09T12:12:31","slug":"rengan-rajaratnam-hedge-fund-insider-trading-case-delayed","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2013\/rengan-rajaratnam-hedge-fund-insider-trading-case-delayed.html","title":{"rendered":"Rengan Rajaratnam Hedge Fund Insider Trading Case Delayed"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/05\/MI-BU919A_RENGA_D_20130325164553.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-35391 alignright\" alt=\"MI-BU919A_RENGA_D_20130325164553\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/05\/MI-BU919A_RENGA_D_20130325164553.jpg\" width=\"282\" height=\"194\" \/><\/a>New York (HedgeCo.Net) &#8211; The insider-trading lawsuit against Rengan Rajaratnam has been delayed for six months while his lawyer works on a separate criminal case. Rengan is the younger brother of the now imprisoned hedge fund billionaire Raj Rajaratnam.<\/p>\n<p>\u201cWe sought a stay because the criminal case takes precedence and he has to devote his resources to it,\u201d Varghese said in an interview after court (according to Bloomberg) . \u201cHe\u2019s a small guy, not like his brother. He doesn\u2019t have a legion of attorneys and has to focus all of his efforts on the criminal matter.\u201d<\/p>\n<p>Rengan Rajaratnam has pleaded not guilty in NY\u00a0court to charges of conspiring in an\u00a0insider trading\u00a0scheme to illegally earn nearly 1.2 million. He has\u00a0been charged with conspiring with his older brother\u00a0<a href=\"http:\/\/www.hedgeco.net\/news\/wp-admin\/post.php?post=21417&amp;action=edit\" target=\"_blank\">Raj<\/a>, to cheat on Wall Street and earn nearly $1.2 million illegally.<\/p>\n<p>Rengan voluntarily surrendered, his lawyer said, flying in from Brazil the day before the hearing.\u00a0He was released on $1 million bail after Monday&#8217;s court appearance.<\/p>\n<p>Rengan was also a portfolio manager at the hedge fund Galleon Group, and the trades for which he was charged resulted in nearly 1.2 million dollars of illegal profit, according to prosecutors. The defendant was charged with six counts of securities fraud and one count of conspiracy, and faces up to 20 years in prison on each of the fraud counts.<\/p>\n<p>Alex Akesson<br \/>\nFor\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The insider-trading lawsuit against Rengan Rajaratnam has been delayed for six months while his lawyer works on a separate criminal case. Rengan is the younger brother of the now imprisoned hedge fund billionaire Raj Rajaratnam. \u201cWe [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,16034,3],"tags":[],"class_list":["post-35387","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedge-fund-rulings","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=35387"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35387\/revisions"}],"predecessor-version":[{"id":38570,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35387\/revisions\/38570"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=35387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=35387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=35387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}