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    Wednesday, November 25, 2009

    Galleon Founder Also Deposed In Another Inquiry

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    By V. Phani Kumar
    MarketWatch Pulse
       

      HONG KONG -- Galleon Group founder Raj Rajaratnam, currently fighting insider-trading allegations, was deposed by U.S. federal authorities in 2007 in another insider-trading investigation involving a hedge-fund run by his brother, according to a report Wednesday. In papers filed in a New York federal court, Rajaratnam disclosed that in 2007 he was deposed in an investigation involving "an unrelated hedge fund," and that fund was run by his brother Rengan Rajaratnam, The Wall Street Journal reported, citing people familiar with the matter. The investigation of Sedna began as an audit by the SEC and eventually turned into an insider-trading investigation into both Sedna and Galleon, the report added.

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