Raj Rajaratnam's brother is in New York and is ready to become the first person in the government's recent insider-trading crackdown to be acquitted by a jury of his peers.
The younger brother of hedge-fund manager Raj Rajaratnam pleaded not guilty to insider-trading charges in federal court in Manhattan on Monday after he was arrested over the weekend when he returned to the U.S. from Brazil.
Mr. Rajaratnam was expected to be released on a $1 million personal recognizance bond. A native of Sri Lanka and a U.S. citizen, he surrendered his passport as part of his bail conditions.
According to his lawyers:
...Rajaratnam denies the charges and "looks forward to clearing his name."