Record fine of $92.8m for insider trader Raj Rajaratnam

[alp227]

Source: BBC

The jailed insider trader, Raj Rajaratnam, has been handed a record fine by the SEC in a civil case.

A judge ordered the former founder of Galleon Group, a hedge fund, to pay $92.8m (£57.6m; 67m euro) in penalties.

This comes on top of the $63.8m lawyers say he has already paid out in the criminal case.

Rajaratnam was sentenced in October to 11 years in jail for one of the biggest insider trading cases in American history.

Read more: http://www.bbc.co.uk/news/business-15649349

[MannyGoldstein]

1. Which will leave the poor bastard with only $1.1 billion

http://www.therichest.org/celebnetworth/business/hedge-fund/raj-rajaratnam-net-worth/

He's a ruined man.

[Lasher]

3. Wonder if his fancy lawyers have a country club quasi-jail picked out for him yet?

He'll probably serve about four months, with time off for good behavior.

[freshwest]

2. Only going to do some good if they apply the fine to catching more crooks.

[Bonobo]

4. American taxpayers will wind up paying for that crook's failed kidneys. nt