who is Raj Rajaratnam?
Prosecutors and the FBI have announced that they have filed charges against several people involved with the Galleon Group hedge fund, including founder Raj Rajaratnam. Galleon is a major hedge hund player known for its investment in technology stocks.

Raj Rajaratnam was arrested Friday in connection with a $20 million insider-trading case. Here are some facts about him.

US citizen residing in New York. Born in Sri Lanka, 1957.
Undergraduate degree: University of Sussex (Britain).
MBA: Wharton School at the University of Pennsylvania.
Hedge-fund trader who started his career at Needham & Co., becoming its president in 1991. Founded Galleon Group in 1997.
Net worth: $1.3 billion. (World’s 559th wealthiest person, according to Forbes.)
Background: One of the most successful businessmen among a diaspora of Tamils who left Sri Lanka to prosper overseas. After the 2004 tsunami hit Sri Lanka, he set up a local charity and urged others to contribute to rebuilding. This year he gave $1 million for the reintegration in society of Tamil fighters, whose military movement was defeated in May.
Politics: Contributed to a number of Democratic campaigns, including $30,800 to Barack Obama and $4,600 to Hillary Clinton in the last presidential election.

Most notably, the government is filing criminal charges related to insider trading in a number of securities going back to 2006. So this is much more than a standard SEC civil charge.

Rajaratnam was charged with four counts of conspiracy and eight counts of securities fraud. He was arrested in his apartment last night.

The Galleon Group has something like $3 billion under management.

The charges stem from trades on stocks including Hilton Hotels, AMD (AMD), Clearwire (CLWR) and Google (GOOG), Akamai (AKAM).

A number of other individuals were named in the complaint, including an executive from Intel Capital, the venture capital arm of Intel, and one from McKinsey & Company.