Indian among 14 charged in Wall Street scam

The FBI has charged 14 people, out of which five have already pleaded guilty, in a case related to the USD 20 million hedge fund insider-trading scam, the largest ever such case in the US. Besides hedge fund managers, lawyers and corporate insiders, the newly charged persons included former employee of Moody's Investor Service Deep Shah who has been charged with conspiracy and securities fraud, the FBI said in a statement. Of the 14, eight were arrested on Thursday while a ninth was being sought. Five other defendants had already been charged and have pleaded guilty in federal court in New York to insider trading crimes. Atheros Communications Inc executive Ali Hariri has been charged with passing on confidential information to a hedge fund manager Ali Far who has pleaded guilty of fraud and is now reportedly cooperating with the investigators.