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ALL IN THE FAMILY

Rajaratnam’s Brother Indicted

On charges of insider trading.

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Raj Rajaratnam on May 11, 2011. (Mary Altaffer/AP)

Rengan Rajaratnam is following in his brother Raj’s footsteps—all the way to the courthouse. Like his older brother before him, the younger Rajaratnam was charged by federal prosecutors Thursday with one count of conspiracy and six counts of securities fraud. He also faces similar allegations from the Securities and Exchange Commission, which filed a civil suit. Rajaratnam, who worked for his now incarcerated brother at his New York hedge-fund firm Galleon Group, had been living in Brazil prior to the indictment and was considered a flight risk by U.S officials.

Read it at The Wall Street Journal

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