Saturday, 18 April 2015
Last updated 16 hours ago
May 9 2013 | 11:31am ET
Rengan Rajaratnam can focus exclusively on staying out of a jail, a federal judge ruled, delaying the Securities and Exchange Commission's lawsuit against the brother of Galleon Group founder Raj Rajaratnam.
Rengan faces similar insider-trading charges to those that sent his brother to prison for 11 years, as well as similar civil allegations. Those will not be heard until after Rengan's criminal trial is completed; the SEC agreed to delay its case until at least Nov. 8.
"He's a small guy," Vinoo Varghese, Rengan's lawyer, said. "He's not his brother. All his efforts are focused on the criminal matter."
Prosecutors allege that Rengan earned $1.2 million as part of a conspiracy to trade technology stocks with his brother. Rengan, who formerly worked at SAC Capital Advisors, ran his own hedge fund before joining Galleon in 2006.
Rengan has denied the allegations, and returned to the U.S. from Brazil, where he had been living, to face the charges.
The next hearing in his criminal case will be on June 6.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…