Tuesday, 23 September 2014
Last updated 11 hours ago
Nov 17 2011 | 12:39pm ET
Raj Rajaratnam will appeal the record fine levied against him last week by a federal judge.
The Galleon Group founder, who also plans to appeal his conviction on criminal insider-trading charges and his 11-year prison sentence, set to begin early next month, will likely argue that the $92.8 million fine handed down by U.S. District Judge Jed Rakoff is onerous.
Rajaratnam's defense team will point to the $63.8 million in restitution and fines he's already paid in the criminal case—and the decade in prison—as sufficient punishment. They'll also probably take issue with the calculations of Rajaratnam's gains from the scheme, and with reports of his net worth.
"Raj is worth nowhere close to $1 billion," a source told Fox Business Network. "This will significantly impact him."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.