One of America’s wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that prosecutors say generated more than $25 million in illegal profits and should be a wake-up call for Wall Street.
Raj Rajaratnam, a partner in Galleon Management and a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to trade based on insider information about several publicly traded companies, including Google Inc.
U.S. Attorney Preet Bharara told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case.
Rajaratnam, 52, was ranked No. 559 by Forbes magazine this year among the world’s wealthiest billionaires, with a $1.3 billion net worth. Read More
Who is Raj Rajaratnam
US citizen residing in New York. Born in Sri Lanka, 1957.
This year he gave $1 million for the reintegration in society of Tamil fighters, whose military movement was defeated in May.
Politics: Contributed to a number of Democratic campaigns, including $30,800 to Barack Obama and $4,600 to Hillary Clinton in the last presidential election. Read More
No wonder America is in a recession! Does anyone besides me see anything strange about this Raj Rajaratnam, the firm is based in New York City with offices in California, China, Taiwan and India. He lives in New York. manager of billions of dollars in technology and health-care hedge funds at Galleon, which he started in 1996 What say you?
Federal agents on Wednesday searched the home of a suburban Denver man identified by law enforcement as having a possible link to al-Qaida.
The task force also feared Zazi was involved in a potential plot involving homemade hydrogen peroxide-based explosives like those cited in an intelligence warning issued Monday, said the officials, who spoke on anonymity because they were not authorized to speak about the investigation.
Zazi has denied he’s a central figure in a terrorism investigation that fed fears of a possible bomb plot and led to several police raids in New York City on Monday. Read More
Up to 24 More People Under Scrutiny as NYC Tightens Security in Terror Probe
Police in New York City stepped up their patrols and increased their random searches on subways and buses Wednesday following reports that as many as 24 more people are under observation in a suspected cross-country terror plot.
The feds circulated the internal alerts in the midst of the investigation into a suspected New York City-Colorado terror plot in which three people — an airport shuttle driver, his father and an imam — are in custody for allegedly lying to the government.
The three are due in court Thursday to face the charges.
The possible Al Qaeda-linked scheme may have included plans to detonate bombs stuffed into backpacks, much like the subway attacks carried out in Madrid and London, authorities say.
Colorado, New York City kind of interesting! Americans do you feel safer under Obama’s leadership? I sure don’t.
Hundreds of New York City public school teachers accused of offenses ranging from insubordination to sexual misconduct are being paid their full salaries to sit around all day playing Scrabble, surfing the Internet or just staring at the wall, if that’s what they want to do.
Because their union contract makes it extremely difficult to fire them, the teachers have been banished by the school system to its “rubber rooms”—off-campus office space where they wait months, even years, for their disciplinary hearings.
The 700 or so teachers can practice yoga, work on their novels, paint portraits of their colleagues—pretty much anything but school work. They have summer vacation just like their classroom colleagues and enjoy weekends and holidays through the school year.
“You just basically sit there for eight hours,” said Orlando Ramos, who spent seven months in a rubber room, officially known as a temporary reassignment center, in 2004-05. “I saw several near-fights. ‘This is my seat.’ ‘I’ve been sitting here for six months.’ That sort of thing.” The Denver Post
This is going on in New York while thousands of teachers across America has lost their jobs because lack of money to pay their wages! What do the teachers thats lost their jobs think about this? This Country is in a hurt under the Obama rule! And yes I feel he is a ruler not a president!