Rajaratnam got 'hot' info | business | Hindustan Times
Today in New Delhi, India
Dec 13, 2017-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Rajaratnam got 'hot' info

Former McKinsey director Anil Kumar told a jury on Monday that he provided confidential information to Galleon Group founder Raj Rajaratnam on a "super-confidential" deal involving the acquisition of ATI Technologies Inc by Advanced Micro Devices Inc.

business Updated: Mar 15, 2011 22:50 IST

Former McKinsey director Anil Kumar told a jury on Monday that he provided confidential information to Galleon Group founder Raj Rajaratnam on a "super-confidential" deal involving the acquisition of ATI Technologies Inc by Advanced Micro Devices Inc.

"I told him that this was red hot," Kumar said. "Please do keep this to yourself...."

The central question of this insider trading case is whether the Sri Lankan born billionaire earned $45 million by using leaked confidential information.

India-American Kumar said that he received a $1 million "bonus" for the info.