FBI: Seven Arrested In Insider-Trading Probe

By Chad Bray, Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- The Federal Bureau of Investigation has taken into custody seven persons in an ongoing insider-trading probe of the hedge-fund industry.

The New York office of the FBI said the individuals were primarily taken into custody in New York. One person was arrested in New Jersey and one person was arrested in Connecticut.

Details on the individuals taken into custody weren't immediately available Thursday.

The arrests follow criminal charges last month against Raj Rajaratnam, founder of hedge-fund firm Galleon Group, and five others in a $20 million insider- trading case.

Rajaratnam has denied any wrongdoing.

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