Rajaratnam Seeks To Remain Free During Appeal

Oct 27 2011 | 8:48am ET

Raj Rajaratnam has asked a federal appeals court to allow him to remain free as he appeals his conviction on insider-trading charges and his 11-year prison sentence.

The Galleon Group founder is scheduled to report to prison on Nov. 28. But on Tuesday his lawyers asked the U.S. Court of Appeals in New York to overturn the trial judge's rejection of Rajaratnam's bid to remain free on $100 million bail pending his appeals.

If an appeal "is not for the purpose of delay and 'raises a substantial question of law or fact likely to result' in reversal or a new trial," the courts are required to allow a defendant to remain free. Rajaratnam's lawyers plan to challenge the use of wiretaps at his trial.

Rajaratnam filed a notice of appeal for both his May conviction on 14 counts of securities fraud and conspiracy and his prison sentence, the longest-ever for insider-trading, imposed earlier this month.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

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.