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

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

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

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.