Tuesday, 21 October 2014
Last updated 3 hours ago
Dec 13 2011 | 2:22am ET
With Raj Rajaratnam safely behind bars, a judge yesterday agreed to end his record bail.
U.S. District Judge Richard Holwell and prosecutors approved the return of the Galleon Group founder's $17.5 million Manhattan apartment and $2.5 million in cash. Those assets had been used to secure the $100 million bail set when Rajaratnam was first arrested on insider-trading charges two years ago.
In addition, Holwell agreed to return Rajaratnam's passport; as a resident of the Federal Medical Center in Ayer, Mass., the former billionaire is no longer considered a flight risk.
"The defendant has fulfilled all the conditions of the Appearance Bond and he is currently in the custody of the Bureau of Prisons serving his sentence," the agreement between prosecutors and Rajaratnam's defense team said.
Rajaratnam has served about one week of his 11-year sentence. He was convicted in May.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...