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Rajaratnam Pleads Not Guilty

Posted by on December 29, 2009 · Leave a Comment 

Hedge fun operator Raj Rajaratnam, one of the wealthiest men in the United States, has pleaded not guilty to charges in an insider trading case. He entered the plea Monday to charges in an indictment returned last week. Prosecutors say Rajaratnam played a key role in a $52 million insider trading case that has resulted in charges against 21 people.

Rajaratnam declined comment after the court appearance. He remains free on $100 million bail. Prosecutors say they’ll turn over 100 hours of intercepted phone calls to attorneys for the defendants this week.

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