Two More Charged in Galleon Insider Case

MANHATTAN (CN) - Federal prosecutors and the SEC charged two more traders in the Galleon inside-trading case, bringing the number of defendants to 28, as prosecutors gear up for the trial of alleged mastermind Raj Rajaratnam. Adam Smith, a former Galleon portfolio manager, was charged Wednesday with using inside information to net $1.3 in illicit profits for Galleon, and Michael Cardillo was charged with hauling in $730,000 through illegal inside trading.

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