Monday, 23rd November 2009

 

23 October 2009 - Press Briefing

Ex-colleague said to be cooperating witness in Rajaratnam probe

Roomy Khan, a hedge-fund manager who briefly worked for Galleon Group in the late 1990s, is understood to be the cooperating witness who touched off the insider-dealing case against Raj Rajaratnam, according to a report in The Wall Street Journal.

In late 2005, the tipster tried to rejoin Rajaratnam amid financial troubles, a Securities and Exchange Commission complaint alleges, claiming the Galleon chief asked Khan if she had inside information about any listed firms. The applicant said she could get access to nonpublic information concerning Polycom, a San Jose-based maker of audio and data-conferencing products, the SEC contends. Prosecutors say the informant and Rajaratnam both traded shares of Polycom several times, as well as shares of Hilton Hotels and Google.

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