Sunday, 27 July 2014
Last updated 2 days ago
Feb 17 2010 | 10:23am ET
Galleon Group founder and accused insider trader Raj Rajaratnam, currently free on $100 million bail, is raising some cash.
The hedge fund billionaire has sold one of the apartments he owns at the ritzy Manhattan co-op 60 Sutton Place South. Rajaratnam bought the 8th-floor apartment just over a year ago for $1.675 million; he sold it for $100,000 less, according to Cityfile.
Rajaratnam also owns an 18th-floor apartment in the building.
Rajaratnam has pleaded not guilty to charges that he ran a $50 million insider-trading scam, one of the largest insider-trading cases ever brought by U.S. authorities. Twenty other individuals have been charged in the case and nine have pleaded guilty.
If convicted, Rajaratnam faces as much as 185 years in prison.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…