Rajaratnam Sentencing Delayed Until Next Month

Sep 22 2011 | 1:57am ET

Convicted insider-trader Raj Rajaratnam will remain a free man for at least another three weeks.

The Galleon Group founder's sentencing, originally scheduled for Tuesday, was postponed to Oct. 13 yesterday. U.S. District Judge Richard Holwell, who presided over Rajaratnam's trial and will impose sentence, did not offer a reason for the delay in the one-sentence order.

Rajaratnam faces almost 25 years in prison on the 14 securities fraud and conspiracy charges he was convicted of in May. Prosecutors are pushing for between 19½ year and 24½ years, a term described by Rajaratnam's defense team as a death sentence for the 54-year-old former billionaire.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note