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

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note