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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...