Raj Rajaratnam case postponed

11 February 2011 02:00 pm

The trial of Galleon Group founder and Sri Lankan Tamil-origin billionaire Raj Rajaratnam, who is facing insider-trading charges, has been postponed by a US court till March 8. Mr Rajaratnam faces multiple charges of conspiracy and security fraud and is accused of making illegal profits to the tune of $49 million.

The jury selection was set to begin on February 28 and the court documents did not give any reason for the delay, the New York Post reported.

Of the 26 people originally charged in the case, 19 have already pleaded guilty. (The Hindu)