Rajaratnam’s insider trading profits may top $50m
From Chinapost.com.tw: Insider trading profits for a wealthy hedge fund operator may have topped $50m, a prosecutor told a judge Tuesday as he argued unsuccessfully for him to be jailed pending trial.
Assistant U.S. Attorney Josh Klein told Judge Richard Holwell in federal court in Manhattan that overwhelming evidence cited by the government at the time of Raj Rajaratnam's October arrest continues to get stronger. He said $36m in profits located by the government by last week had already grown by $5m this week, and “we know there are millions of additional dollars of profits.”... Full article: Source
‘Tipper X’ said to be ex-Lanexa trader Thomas Hardin
From Bloomberg.com: Thomas Hardin, an ex-Lanexa Global Management trader, is the previously unidentified link between two alleged insider trading rings described in a U.S. regulatory lawsuit against more than 20 people, including Galleon Group founder Raj Rajaratnam, a person familiar with the matter said.
A Securities and Exchange Commission complaint filed in November refers to Hardin as “Tipper X,” the person said, declining to be identified because the information isn’t public. The SEC said Tipper X traded on and shared confidential data about Hilton Hotels Corp., Kronos Inc. and Google Inc... Full article:......................
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