Raj Rajaratnam will appear in court later on today (Friday).

Raj Rajaratnam will face both civil and criminal charges. He will face hefty fines and most likely jail time.
Raj Rajaratnam Charged With Insider Trading

Read more at: http://www.huffingtonpost.com/2009/10/16/raj-rajaratnam-charged-wi_n_323879.html

NEW YORK " One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street.

Raj Rajaratnam, a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to use insider information to trade securities in several publicly traded companies, including Google Inc.

Read more at: http://www.huffingtonpost.com/2009/10/16/raj-rajaratnam-charged-wi_n_323879.html