A Big House For A Big Man: A Raj Rajaratnam Ruling

Keep those spirits high, Raj, because you're going to be in the slammer for a while.

By Staci Zaretsky on June 24, 2013 5:09 pm

Rajaratnam’s arguments are not persuasive.

— Judge José A. Cabranes, writing for a three-judge panel of the Second Circuit in upholding the insider trading convictions of former hedge fund manager Raj Rajaratnam. On appeal, Rajaratnam unsuccessfully argued that federal prosecutors obtained a wiretap warrant with a “reckless disregard for the truth.” Rajaratnam will serve the remainder of his 11-year sentence.

(If you’re interested, continue reading for the Second Circuit’s opinion.)