Rajaratnam’s Brother Settles SEC Lawsuit for $841,000
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Rengan Rajaratnam, the younger brother of imprisoned hedge fund co-founder Raj Rajaratnam, agreed to pay more than $841,000 to settle a regulator’s insider-trading lawsuit.
Rengan Rajaratnam, who worked for both SAC Capital Advisors LP and his brother’s Galleon Group LLC, was the first defendant to be cleared of criminal wrongdoing in a federal probe of illicit trading that has resulted in convictions of at least 80 people since 2009. The trades in question occurred while Rengan, now 44, worked at Galleon as well as Sedna Capital Management LLC, a hedge fund he co-founded.