Rajaratnam brothers charged with insider trading in US

The younger brother of jailed hedge fund manager Raj Rajaratnam has been charged by US prosecutors with conspiring in an insider trading scheme to cheat on Wall Street and earn nearly USD 1.2 million illegally. Rajarengan ‘Rengan’ Rajaratnam, 42, of Manhattan, was charged by the Federal Bureau of Investigation (FBI) and the US Securities and Exchange Commission (SEC) with conspiracy to commit securities fraud and six counts of securities fraud.

 Rengan Rajaratnam was former portfolio manager at the hedge fund management firm Galleon Group.