Rajaratnam Pays $1.5 Million To Settle Gupta Case

Jan 2 2013 | 12:51pm ET

Convicted insider-trader Raj Rajaratnam has agreed to pay some of the nearly $160 million in fines and disgorgement assessed against him.

The Galleon Group founder, convicted of fraud in 2011, reached a deal with the Securities and Exchange Commission last week. Rajaratnam, currently serving an 11-year prison sentence, will pay $1.3 million in disgorgement and $147,738 in interest. He has already paid $53.8 million in forfeitures and a $10 million fine as part of the criminal case against him.

Rajaratnam is still fighting the record $92.8 million fine imposed by the SEC. The $1.5 million deal stems from the SEC's case against former McKinsey & Co. chief Rajat Gupta, who allegedly passed Rajaratnam tips about two companies on whose boards he served. Gupta was convicted of insider-trading in June.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note