Supreme Court Rejects Rajaratnam Appeal

Jun 17 2014 | 8:57am ET

Argentina wasn’t the only appellee denied by the U.S. Supreme Court yesterday.

The high court rejected the final appeal of Galleon Group founder Raj Rajaratnam, who is serving an 11-year sentence for insider-trading. The court did not explain why it refused to take the case.

Rajaratnam was convicted of fraud in 2011. Prosecutors said he had earned as much as $63.8 million in illegal profits trading on insider information about a large number of companies, including Goldman Sachs and Google Inc. The U.S. Second Circuit Court of Appeals last year upheld that conviction, rejecting Rajaratnam’s argument that the wiretaps central to the government’s case against him were improperly obtained.

The ruling comes just a day before one of Rajaratnam’s tipsters, former McKinsey & Co. chief and Goldman director Rajat Gupta, reports to prison for passing information about the bank to Rajaratnam.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...