{"id":41951,"date":"2014-06-18T00:35:28","date_gmt":"2014-06-18T04:35:28","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=41951"},"modified":"2014-06-19T07:45:37","modified_gmt":"2014-06-19T11:45:37","slug":"two-hedge-fund-fraud-charges-dropped-against-rengan-rajaratnam","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2014\/two-hedge-fund-fraud-charges-dropped-against-rengan-rajaratnam.html","title":{"rendered":"Rengan Rajaratnam&#8217;s Hedge Fund Fraud Charges Go To Trial"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/03\/MI-BU919A_RENGA_D_20130325164553.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-34582\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/03\/MI-BU919A_RENGA_D_20130325164553.jpg\" alt=\"MI-BU919A_RENGA_D_20130325164553\" width=\"282\" height=\"194\" \/><\/a>New York (HedgeCo.Net) &#8211;<em>\u00a0<\/em>Rengan Rajaratnam&#8217;s trial for hedge fund insider trading has begun.<\/p>\n<p>Rengan Rajaratnam was charged with conspiracy to commit securities fraud and six counts of securities fraud.\u00a0He has\u00a0been charged with conspiring with his older brother\u00a0<a style=\"color: #743399;\" 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 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>Rengan voluntarily surrendered, his lawyer said, flying in from Brazil the day before the hearing.\u00a0He was released on $1 million bail. His brother, a\u00a0Sri Lankan-born American who founded the New York hedge fund Galleon Group, was found guilty on 14 counts of conspiracy and securities fraud in May 2011. He is currently serving an 11-year prison sentence.<\/p>\n<p>Alex Akesson<br \/>\nFor\u00a0<a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a style=\"color: #ff4b33;\" 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 style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211;\u00a0Rengan Rajaratnam&#8217;s trial for hedge fund insider trading has begun. Rengan Rajaratnam was charged with conspiracy to commit securities fraud and six counts of securities fraud.\u00a0He has\u00a0been charged with conspiring with his older brother\u00a0Raj, to cheat on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-41951","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41951","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=41951"}],"version-history":[{"count":8,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41951\/revisions"}],"predecessor-version":[{"id":42660,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41951\/revisions\/42660"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=41951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=41951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=41951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}