U.S. v. Rajaratnam
Manhattan U.S. Attorney Preet Bharara’s 81-case winning streak in insider trading convictions ended July 8, when a federal jury in Manhattan acquitted the younger brother of imprisoned hedge fund titan Raj Rajaratnam of a single count of conspiring with his brother to commit insider trading. Rengan Rajaratnam, a former portfolio manager at Galleon Group, his elder brother’s now-defunct hedge fund, had initially faced six counts of insider trading on top of the conspiracy count, but prosecutors agreed to drop four before trial.
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