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

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of