NEW YORK (AP) — A Florida woman with long ties to a one-time billionaire hedge fund founder jailed on insider trading charges will testify at the New York trial of a San Francisco hedge fund operator.
Prosecutor Christopher LaVigne (luh-VEEN) told a jury in an opening statement Tuesday that Roomy Khan will testify at the trial of Doug Whitman. Whitman is accused of taking tips from Khan and others to make nearly $1 million illegally since 2007. His attorney told jurors that Whitman did not buy or sell any stock based on insider information.
Kahn, of Fort Lauderdale, Fla., met one-time billionaire Raj Rajaratnam (RAHJ rah-juh-RUHT'-nuhm) in the mid-1990s. She has pleaded guilty to related charges and is cooperating.
Rajaratnam is serving 11 years in prison. He was convicted at trial of insider trading.