Rajaratnam Appeals $93 Million Fine

Dec 8 2011 | 2:23am ET

Add another Raj Rajaratnam appeal to the docket. The convicted insider-trader has filed a notice of appeal of the record fine imposed against him in the Securities and Exchange Commission's civil case.

U.S. District Judge Jed Rakoff slapped Rajaratnam with a $92.8 million penalty last month, the maximum allowed by law, equal to three times the Galleon Group founder's illicit gains. The fine is on top of $63.8 million in fines and restitution Rajaratnam paid after his conviction in May.

The one-time billionaire began serving an 11-year prison sentence on Monday. He plans to appeal both that sentence and his conviction, as well as the SEC fine.

Rajaratnam's filing yesterday allows him to appeal the final judgment in the SEC case.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?