{"id":36010,"date":"2013-06-07T14:07:52","date_gmt":"2013-06-07T18:07:52","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36010"},"modified":"2013-06-07T14:07:52","modified_gmt":"2013-06-07T18:07:52","slug":"sec-may-use-rengan-rajaratnam-as-link-to-sac-hedge-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2013\/sec-may-use-rengan-rajaratnam-as-link-to-sac-hedge-fund.html","title":{"rendered":"SEC May Use Rengan Rajaratnam As Link To SAC Hedge Fund"},"content":{"rendered":"

New York (HedgeCo.Net) – 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, the imprisoned hedge fund manager\u00a0Raj Rajaratnam<\/a>, to cheat on Wall Street and earn nearly $1.2 million illegally.<\/p>\n

“It is unclear whether Rengan Rajaratnam has offered to cooperate with the government as part of any plea agreement or whether the talks will even result in him pleading guilty to insider trading charges.\u00a0But one of the reasons the government could be interested in the younger Rajaratnam is that he could assist lawyers if the government gets close to building a case against SAC Capital Advisors, the hedge fund behemoth founded by trader Steven A. Cohen.” The NYT reports.<\/em><\/p><\/blockquote>\n

Rengan voluntarily surrendered, his lawyer said, flying in from Brazil the day before the hearing.\u00a0He was released on $1 million bail after Monday’s court appearance.<\/p>\n

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

Alex Akesson
\nFor\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – 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, the imprisoned hedge fund manager\u00a0Raj Rajaratnam, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-36010","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36010","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=36010"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36010\/revisions"}],"predecessor-version":[{"id":38569,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36010\/revisions\/38569"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}