US: Raj Rajaratnam denies insider trading charges

Posted By: Staff
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New York, Dec 22: Raj Rajaratnam, the Sri Lankan Tamil-origin billionaire who has been accused of operating an insider trading operation in tech and other stocks through his hedge fund, has pleaded not guilty before a court.

The founder of the Galleon Group and hedge fund operator is facing charges for allegedly running an insider trading scam that has racked upto 21 million dollars in profits.

"Rajaratnam is innocent, and looks forward to his day in court when a jury of his fellow citizens will examine and evaluate all of the evidence," his lawyer John Dowd is quoted as saying in news reports.

Four Indian-Americans are also charged in the the biggest hedge-fund insider trading case in the US.

The Sri Lankan tamil has also been accused of providing financial support to a charity linked to the Lankan rebel outfit Liberation Tigers of Tamil Eelam (LTTE). He also also denied this charge of intentionally funding terror organisation.

OneIndia News

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