Meanwhile, US district judge Richard Howell turned down Rajaratnams bid for a reduction of his $100 million bail.
The accused, who is free, asked last month, that the amount be reduced to $20 million. The prosecutors fear that Rajaratnam will try and flee to Sri Lanka and asked that he be jailed before trial but the Judge turned down this request.
The report by the Wall Street Journal said that this Tipper X is Thomas Hardin, a 32-year-old trader at hedge fund Lanexa Global Management.
Hardin, who also traded on inside information, is one of the three witnesses, whose names have been provided to the defendants in the case.
The New York Times reported that Hardin traded on inside information while at Lanexa and passed information to, Gautham Shankar, a former trader at the Schottenfeld Group who has already been implicated in this case.
The daily reported that Hardin alleged wrongful trades involved the pending takeover of Hilton Hotels and and Kronos Inc, a Massachusetts software company.
In October, Rajaratnam received 13 charges, four counts of conspiracy and eight counts of security fraud. Galleon Group is a hedge fund with up to $7 billion in assets under management. This is the first case to use authorised wiretaps and the investigators are still on the job.
Image: Raj Rajaratnam. | Photograph: Reuters
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