Hedge Fund Founder’s Insider-Trading Indictment Delayed

Dec 17 2009 | 12:24pm ET

Federal prosecutors have received another month to indict four of the 21 people charged in the Galleon Group insider-trading case.

Among those who will have to wait until Jan. 15 to face a grand jury is Mark Kurland, a co-founder of hedge fund New Castle Partners. It is believed that the four men—the others are former IBM executive Robert Moffat, former McKinsey & Co. director Anil Kumar and former Intel executive Rajiv Goel—are working out plea agreements with prosecutors.

The move to delay their indictment comes just a day after the Tuesday indictment of Galleon founder Raj Rajaratnam and former New Castle executive Danielle Chiesi.

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