Thursday, 28 August 2014
Last updated 1 hour ago
Nov 6 2009 | 2:47am ET
A federal judge has refused to cut accused insider-trader Raj Rajaratnam’s record-setting bail, but he will allow the Galleon Group founder to travel farther beyond New York City.
U.S. Magistrate Judge Theodore Katz yesterday told Rajaratnam’s attorneys that he did not “see a reason to revisit the monetary amount” of $100 million, which the hedge fund chief’s team had asked be cut to $25 million. But he did agree to allow Rajaratnam to travel freely within the U.S. Previously, he had been restricted to within 110 miles of New York.
The failed bid to lower Rajaratnam’s bail came on the same day that 14 other defendants joined the six existing defendants in the insider-trading case against Rajaratnam. Among those 14 are two with ties to Galleon, which is in the process of liquidating most of its hedge funds and winding down its business.
Prosecutors had opposed the lowered bail and looser travel restrictions, arguing that Rajaratnam, a dual U.S.-Sri Lankan citizen, could flee, noting that he was scheduled to fly to London on the day of his arrest three weeks ago.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...