Sri Lanka-born billionaire Mr Raj Rajaratnam made $4 million on Hilton stock in a single day after getting tips ~ in which two Indian-Americans were involved ~ when the hotel chain was bought by Blackstone Group in July 2007, a Federal jury was told.
The jurors at the insider trading trial, in which Mr Rajaratnam is the prime accused, also listened to more wiretaps that prosecutors say show disgraced former Intel executive Mr Rajiv Goel provide secret information about pending technology industry deals to the hedge fund tycoon. Mr Goel has already pleaded guilty to giving Mr Rajaratnam insider tips.
Comments - 1
Chin Wednesday, 23 March 2011 06:03 AM
This is not new in stock business. Investors get 100s 1000s of tips each day in the markets all around the world.
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