The Securities and Exchange Commission earlier today accused Kris Chellam , a former senior executive at Xilinx, of illegally passing along nonpublic information to convicted Galleon hedge fund manager Raj Rajaratnam.
Galleon used the tip to make approximately $978,684 in illegal profits as a result, according to the government.
In its report, the SEC says that Chellam turned over confidential company information in December 2006 that Rajaratnam used to short Xilinx stock.
The two were described as personal friends. Chellam, who had a "substantial investment in Galleon funds" according to the … Read more