Ex-Galleon Trader Goffer Convicted of Insider Trading

NEW YORK — Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Monday pleaded not guilty to insider trading charges. The younger Rajaratnam entered his plea in Manhattan federal court, one day after his arrest at John F. Kennedy International Airport in New York. FBI agents had escorted him to the United States on a flight from Brazil. Prosecutors on Thursday accused Rengan Rajaratnam, 42, of conspiring with his brother to trade on non-public information concerning Clearwire Corp and Advanced Micro Devices Inc in 2008.

Sentencing of Raj Rajaratnam, the hedge fund magnate convicted in the biggest Wall Street insider trading case in years, has been postponed until October.A court order Wednesday by New York federal Judge Richard Holwell moved sentencing day from September 27 to October 13. No reason was given.Sri Lankan-born Rajaratnam, founder of the Galleon Group hedge fund, was found guilty on 14 counts of conspiracy and securities fraud in May. An initial sentencing date of July 29 had already been postponed until the end of the summer while Rajaratnam, 54, remained under house arrest.

Billionaire hedge fund founder Raj Rajaratnam was convicted Wednesday on all counts of fraud and conspiracy in Wall Street's biggest insider trading trial for years.The New York federal jury found Sri Lankan-born Rajaratnam, head of the Galleon Group, guilty on all 14 counts. Rajaratnam, 53, faces up to 25 years in prison.The marathon case was seen as a huge assault by prosecutors on Wall Street corruption.