Friday, 22 August 2014
Last updated 10 hours ago
Oct 11 2013 | 10:38am ET
The U.S. government shutdown has put the brakes on the case against Galleon Group founder Raj Rajaratnam's brother.
Rengan Rajaratnam was charged with insider-trading in March, accused of illegally trading two technology stocks while working at Galleon. He has pleaded not guilty, although in May prosecutors asked the judge overseeing the case for more time "to facilitate plea discussions."
But the now 11-day old shutdown is keeping them from the evidence prosecutors need: With the Department of Justice having furloughed all non-essential staff members, they do not currently have access to evidence held electronically at Justice facilities in Virginia, Bloomberg News reports.
Rengan Rajartnam returned to the U.S. from his home in Brazil to face the charges. He is currently free on $1 million bail.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note