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Business News/ Politics / News/  Rajaratnam ordered to pay record $92.8 mn in SEC case
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Rajaratnam ordered to pay record $92.8 mn in SEC case

Rajaratnam ordered to pay record $92.8 mn in SEC case

Raj Rajaratnam co-founder of Galleon hedge fund group. Photo: APPremium

Raj Rajaratnam co-founder of Galleon hedge fund group. Photo: AP

New York: A federal judge ordered Raj Rajaratnam, the Galleon Group hedge fund founder convicted of insider trading, to pay a $92.8 million penalty in a related civil case brought by the United States (US) Securities and Exchange Commission (SEC).

Raj Rajaratnam co-founder of Galleon hedge fund group. Photo: AP

Rajaratnam was convicted in May of 14 counts of securities fraud and conspiracy in a separate criminal case. Rakoff’s colleague, US district judge, Richard Holwell, sentenced Rajaratnam last month to an 11-year prison term.

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Published: 09 Nov 2011, 02:01 PM IST
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