Six Charged in Vast Insider-Trading Ring

Discussion in 'Wall St. News' started by WallstYouth, Oct 17, 2009.

  1. In a case echoing the scandals of the 1980s, federal authorities exposed what they claim is the biggest insider-trading ring in a generation -- a conspiracy in which a hedge-fund kingpin and executives at blue-chip firms including IBM and Intel allegedly connived to profit on Google and other big-name stocks.

    At the center was Raj Rajaratnam, founder of Galleon Group, a New York-based fund firm that manages $3.7 billion. A native of Sri Lanka, he spent years carving a reputation as a meticulous investor in technology stocks, building a fortune estimated at $1.5 billion.

  2. way to go SEC. 6 guys with a black dude king pin, does not seem like the "vast" network they say it is.

    So can we hope the real big shots like S Cohen is next in line? or does he have special immunity?