Wednesday, January 13, 2010
Ex-McKinsey executive says Rajaratnam paid USD 1.75 million
A former McKinsey & Co director told a court on Jan. 7 that Galleon hedge fund founder Raj Rajaratnam paid him $1.75 million in exchange for confidential information on clients to make illegal stock trades.
Anil Kumar, the former management consultant executive, made the statement in pleading guilty to conspiracy to commit securities fraud and securities fraud in Manhattan federal court. He was the seventh person to plead guilty in what U.S. prosecutors have called the biggest hedge fund insider trading case ever in the country.
To read the full article, click here...
To read the ePaper, visit: http://www.newsindia-times.com
Anil Kumar, the former management consultant executive, made the statement in pleading guilty to conspiracy to commit securities fraud and securities fraud in Manhattan federal court. He was the seventh person to plead guilty in what U.S. prosecutors have called the biggest hedge fund insider trading case ever in the country.
To read the full article, click here...
To read the ePaper, visit: http://www.newsindia-times.com
Labels: manhattan federal court, mckinsey, mckinsey executive, raj rajaratnam, securities fraud
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