Friday, 27 November 2015
Last updated 1 day ago
Oct 29 2010 | 1:44am ET
Roomy Khan, the prosecution's star witness in the Galleon Group insider-trading case, has settled insider-trading charges leveled against her by the Securities and Exchange Commission.
Khan, a former Galleon employee cooperating with the investigation of Galleon founder Raj Rajaratnam, agreed to pay $1.9 million to settle the case. Khan had previously pleaded guilty to criminal insider-trading charges stemming from the Galleon case, the second time she has admitted to trading on confidential information.
Khan, a former Intel Corp. analyst, says she passed a series of tips on to Rajaratnam, in part to try to win a job at the New York hedge fund, where she worked briefly in the late 1990s. She also allegedly paid a Moody's Investor Service analyst, Deep Shah, $10,000 for inside information.
According to prosecutors, Khan earned $1.5 million trading on the confidential information herself.
Rajaratnam has denied any wrongdoing. His trial is currently set to begin in January.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…