Rajaratnam Lawyers Reject Prosecutors' Bid To Prolong Sentence

Oct 11 2011 | 12:11pm ET

Raj Rajaratnam's lawyers pooh-poohed prosecutors' allegations that the Galleon Group founder led a cabal of hedge fund employees to act illegally in their continued effort to minimize his sentence.

In a filing yesterday, Rajaratnam's legal team denied prosecutors' claim Friday that Rajaratnam's insider-trading scheme involved Galleon back-office employees and outside fund managers, knowingly or unknowingly. Federal sentencing guidelines call for longer prison terms for those who lead five or more people in a crime.

"There is simply no evidence that Mr. Rajaratnam led any of these individuals in connection with criminal activity—much less that he led all of them—much less that he did so with specific criminal intent," Rajaratnma's lawyers wrote.

Rajaratnam is to be sentenced on Thursday, five months after his conviction on securities fraud and conspiracy charges. Prosecutors are pushing for a sentence of up to 24½ years; Rajaratnam's lawyers have countered with no more than eight years.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Hedgies, Economists and Musicians Mingle At Milkin Mixers In Hamptons

Aug 25 2014 | 6:00am ET

Leave it to Michael Milken to bring some gravitas and sweat to the Hamptons -- along...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

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.