2nd Circuit, Crime, Hedge Funds / Private Equity, Insider Trading, Money, Quote of the Day, Wall Street

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

Raj Rajaratnam

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.)

Second Circuit Opinion: U.S. v. Rajaratnam

Rajaratnam Conviction Upheld by Appeals Court [DealBook / New York Times]

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