AP source: Hedge boss' brother cited in NY probe
{{#rendered}} {{/rendered}}A person familiar with a massive insider trading investigation says the government has identified the brother of one-time billionaire hedge fund founder Raj Rajaratnam (RAHJ rah-juh-RUHT'-nuhm) as a co-conspirator.
The person told The Associated Press on Wednesday that Ragakanthan Rajaratnam is the person identified in court papers filed last week only as "CC-1." That means co-conspirator No. 1.
The person spoke on condition of anonymity because the younger brother of the hedge fund founder is not identified publicly by the government.
{{#rendered}} {{/rendered}}The Galleon fund's founder has pleaded not guilty to securities fraud charges. His brother, who no longer works at Galleon, did not immediately return a call for comment.
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Associated Press writer Tom Hays contributed to this report.