David Faber reports Raj Rajaratnam has been charged in a $20 million insider trading case, which is probably upsetting regardless but stings that much more given that the Journal boldly claimed in February that Galleon would be among a group of A-team hedge funds not going under in the foreseeable future. (This news will also rain on the parade Raj-Raj was likely throwing for himself to celebrate being named the 236th richest person in America.) The FBI had apparently been tapping Raj’s cell phone, so hopefully we’ll get some good convos out of that.
Per the Journal, others charged include:
Rajiv Goel, director in strategic investments at Intel Corp.’s investment arm; Anil Kumar, a director at global management-consulting firm McKinsey & Co.; Danielle Chiesi and Mark Kurland of Newcastle Partners LP, the one-time equity hedge-fund group at Bear Stearns Asset Management Inc.; and Robert Moffat, a senior vice president at International Business Machines Corp.
Here’s the complaint, via Dealbook: