Raj Rajaratnam is a Sri Lankan-born Tamil who founded the Galleon Group, a New York-based hedge fund management firm. On October 16, 2009, he was arrested by the FBI on allegations of insider trading, which also caused the Galleon Group to close. His attorney indicated that Rajaratnam would plead not guilty and fight the charges of insider trading in court. He stood trial in U.S. v Rajaratnam (09 Cr. 01184 RJH) in the United States District Court for the Southern District of New York, and on May 11, 2011, was found guilty on all 14 counts of conspiracy and securities fraud.
Rajaratnam was born in Colombo, Sri Lanka. According to the newspaper The Island he attended S. Thomas' College, Mount Lavinia, though other sources say he attended S. Thomas' Preparatory School, Kollupitiya. He moved to England to study engineering at the University of Sussex. He earned an M.B.A. from Wharton School of the University of Pennsylvania in 1983. He is married with three children and maintains residences in Connecticut, New York, and Florida.
According to Forbes magazine, Rajaratnam is a Tamil self-made billionaire hedge fund manager. He was the 236th richest American in 2009, with an estimated net worth of $1.8 billion. He was the 262nd richest American in 2008, with an estimated net worth of $1.5 billion. As of 2009 he was the richest Sri Lankan-born individual in the world.