Stocks

Galleon Group founder Rajaratnam’s trial postponed

| | Updated on: Feb 11, 2011

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.

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.

Mr Rajaratnam faces multiple charges of conspiracy and security fraud and is accused of making illegal profits to the tune of $49 million.

Of the 26 people originally charged in the case, 19 have already pleaded guilty.

Published on February 11, 2011

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