John Kinnucan Gets SEC Subpoena for Information on Galleon Spin Off

John Kinnucan, the man who refused to wear a wire in an ongoing insider trading probe, just received a subpoena from the SEC.

John Kinnucan
John Kinnucan

Katya Wachtel at Business Insider broke the news.

The subpoena requests information about Sedna Capital Management. Kinnucan told Business Insider that he's never heard of the firm.

Sedna is run by Paul Yook and Rengan Rajaratnam. According to a June 2007 report from Alternative Investment News, Sedna is a a New York-based fund focused on health care. It was founded in 2004 with $15 million. By 2007, it had grown to $40 million.

Both Yook and Rajaratnam had worked together at Galleon Management, the mulit-billion dollar hedge fund whose founder Raj Rajaratnam was arrested in October of 2009 on charges of insider trading.

And, yes, Rengan and Raj are brothers.

The government reportedly began an an insider trading probe of Sedna back in 2007. Rengan has not been charged and the status of that investigation is uncleaer.

The SEC has given him only two days to comply with the subpoena, Business Insider reports.

"I've never even heard of them," Kinnucan said. "I've never even done business with Galleon."