Prosecutors: Reveal Rajaratnam's Medical Problems

Sep 30 2011 | 11:40am ET

If Galleon Group founder Raj Rajaratnam is to get a break on his sentence for insider-trading due to his health problems, prosecutors say that the public has a right to know exactly what those problems are.

The U.S. Attorney's Office in Manhattan has asked U.S. District Judge Richard Holwell to unseal a number of letters and declarations dealing with Rajaratnam's medical conditions. The former billionaire's lawyers have repeatedly cited Rajaratnam's health—among other things—in decrying the "grostequely severe" sentence of between 19½ and 24½ years sought by prosecutors, going so far as to call it a death sentence. But they have never specified what precisely the "unique constellation of ailments ravaging" Rajaratnam's body are, although Rajaratnam had emergency foot surgery during his trial earlier this year.

"While individuals have a right to medical privacy, Rajaratnam waived such rights, at least in part, by arguing that his medical conditions justify departing or varying from the sentencing guidelines," prosecutors wrote. "The public has a First Amendment right to see the arguments and declarations that both parties submitted to this court about the impact of his medical condition on sentencing."

Prosecutors also called on Holwell to make public "the general nature of his medical conditions and his long-term prognosis" if he chooses to take Rajaratnam's health into account when he sentences the fraudster on Oct. 13.

Which is not to say that prosecutors are buying Rajaratnam's argument. They noted that Rajaratnam committed most of his crimes with full knowledge of his medical condition, and that other defendants in the case have not received leniency for serious medical issues. They also took issue with the defense's allegation that a long sentence for the 54-year-old would be a death sentence, arguing that the U.S. Bureau of Prisons can provide adequate medical care.

Rajaratnam's lawyers have not responded to the request to unseal.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.