New York prosecutors Thursday charged 14 people with crimes in an alleged $20
million insider-trading case. The arrests are the latest in an ongoing probe
into insider-trading by Wall Street hedge funds. Last month Raj Rajaratnam,
founder of hedge-fund firm Galleon Group, and five others were charged
criminally with insider trading. Some of the people arrested Thursday had ties
to the Galleon case.
Live-blogged by
David Benoit12:17 EST US Attorney Preet Bharara is about to start press conference. Also
there: SEC enforcement director Robert Khuzami and the FBI's Joseph M Demarest
Jr., who's in charge of the New York field office.
They've dubbed it Insider Trading II and it comes with colorful charts laying
out the total $40 million the accused are alleged to have made.
Details on wiretaps huge profits and a growing list of defendents coming soon
from NY.
(MORE TO FOLLOW) Dow Jones Newswires
11-05-091233ET
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