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Rediff News  All News  » Business » Rajaratnam's brother pleads not guilty to charges in US

Rajaratnam's brother pleads not guilty to charges in US

March 26, 2013 03:44 IST

The younger brother of jailed hedgefund manager Raj Rajaratnam Monday pleaded not guilty at a US court to charges of conspiring in an insider trading scheme to cheat on Wall Street and earn nearly $1.2 million illegally.

Rengam Rajaratnam, 42, brother "pleaded not guilty" before a New York court, where he was produced a day after his arrest at the JohnFKennedyAirport on arrival from Brazil.

Rajaratnam, was indicted last week by the Federal Bureau of Investigation and US Securities and Exchange Commission on charges of insider trading.

A former portfolio manager at the hedge fund management firm Galleon Group, Rengan is the younger brother of Raj

Rajaratnam who in October 2011, was sentenced to 11 years in prison and fined a total criminal and civil penalty of over $150 million after being convicted in a massive insider trading case, the largest in the US history.

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