New indictment boosts charges vs. Raj Rajaratnam
NEW YORK — A new indictment has boosted criminal insider trading charges against one of America’s richest men in what New York authorities have described as history’s largest hedge fund insider trading case.
The indictment brought by federal prosecutors in Manhattan was made public Tuesday.
The new charges bring allegations against hedge fund operator Raj Rajaratnam’s (RAHJ rah-juh-RUHT’-nuhm) that are based on claims by some defendants who have pleaded guilty in the case.
They also expand the time frame that some of the crimes were allegedly carried out from a matter of months to years.
Rajaratnam, one of America’s richest men, has been accused by prosecutors of making as much as $50 million through insider trading. He denies the charges.
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