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Raj Rajaratnam

October 24, 2012 | By Andrew Tangel
NEW YORK -- Rajat Gupta, among the world's most prominent businessmen, may spend years in prison for his role in the Galleon Group insider-trading scheme. Or, Gupta may perform community service as punishment after a judge sentences him Wednesday on three counts of securities fraud and another of conspiracy. A jury convicted him in June. His lawyers have proposed sentencing him to work for a homeless youth shelter in New York or in Rwanda, helping improve health care and develop agriculture in rural areas.
June 15, 2012 | By Joe Bel Bruno
U.S. Atty. Preetinder "Preet" Sing Bharara -- a modern-day version of Eliot Ness? Back in the late 1920s, Ness made a name for himself as a Prohibition agent and leader of a law enforcement team called "The Untouchables. " He went after bootleggers, gangsters including Al Capone. These days, the public has turned its attention to Wall Street wrongdoing after the financial crisis. And Bharara -- who was named this year by Time magazine as "One of The 100 Most Influential People in the World" -- has notched conviction after conviction in a sweeping insider trading investigation.
December 4, 2012 | By Andrew Tangel
NEW YORK -- Rajat Gupta, a former Goldman Sachs director a found guilty of insider-trading charges in October, will try to remain free while he appeals his conviction.  Gupta's bid to stay free beyond his Jan. 8 surrender date is scheduled to be heard Tuesday by the U.S. 2nd Circuit Court of Appeals. If Gupta begins serving his two-year sentence and his appeal were eventually successful, he could conceivably be freed or face a new trial after serving much of his sentence. In court papers, Gupta's lawyers laid out what they claimed were judicial errors in the case, and concluded: "Gupta was denied the opportunity to present the best evidence of his innocence. These errors pervaded the whole trial.
June 4, 2012 | By Andrew Tangel
The highest-profile trial underway in New York may soon see testimony from a marquee witness: Lloyd Blankfein, chairman and chief executive of the powerful investment bank Goldman Sachs. Blankfein could testify as early as Monday in the insider-trading trial of former Goldman director Rajat Gupta, who is accused of illegally passing secret company information to hedge fund manager Raj Rajaratnam. Rajaratnam, who ran a vast insider-trading network as head of the Galleon Group, was sentenced to 11 years in prison following his own trial last year.
June 14, 2012 | By Andrew Tangel
Jurors in Rajat Gupta's trial are weighing the former Goldman Sachs director's fate in his high-profile insider-trading case in New York. Gupta, 63, is the highest profile defendant to face charges in a wide-ranging insider-trading scheme headed by Raj Rajaratnam. Rajaratnam was found guilty last year and sentenced to 11 years in prison. Gupta's trial featured multiple days of testimony by Goldman's chairman and chief executive officer, Lloyd Blankfein, as well as videotaped testimony by Ajit Jain, who is seen as a potential successor to legendary investor Warren Buffett to run Berkshire Hathaway Federal prosecutors have produced emails, phone records and other documents in their bid to prove Gupta was a highly placed tipster for Rajaratnam, providing illegal inside information to Rajaratnam, head of the Galleon Group hedge fund.
March 18, 2011 | By Nathaniel Popper, Los Angeles Times
A former Goldman Sachs Group Inc. director accused of leaking confidential information is suing the Securities and Exchange Commission, saying the agency "unfairly and unconstitutionally" singled him out. The SEC has accused Rajat Gupta, former head of consulting firm McKinsey & Co., of giving inside information about Goldman to his friend and business partner Raj Rajaratnam. Rajaratnam, former head of the Galleon hedge funds, is on trial on 14 counts of insider trading. He has denied any wrongdoing.
March 30, 2012 | By Tiffany Hsu
Ray Dalio of Bridgewater Associates took home $3.9 billion last year. Fellow investment kings Carl Icahn and James Simons each made off with more than $2 billion. To the average plebeian, that's a lot of money. But for the top 25 hedge fund earners in the U.S., 2011 was the year that they collectively took a 35% pay cut and suffered one of the least profitable periods in their history, according to an annual ranking from investment magazine AR . Blame the European debt crisis , which roiled markets around the world and made timing the markets even more difficult than usual.
April 27, 2012 | By E. Scott Reckard, Los Angeles Times
Prosecutors probing insider trading in the medical devices industry are investigating a senior Goldman Sachs banker and a former employee of the notorious hedge fund Galleon Group. The investigation, according to a person briefed on the matter, is focused on the 2009 takeover of Advanced Medical Optics in Santa Ana. The U.S. attorney's office in Los Angeles has been scrutinizing the ties between Goldman managing partner Matthew Korenberg, who worked on the Advanced Medical Optics deal, and Paul Yook, a former portfolio manager at Galleon, the person said.
March 16, 2013 | Andrew Tangel
Two affiliates of embattled hedge fund SAC Capital Advisors agreed to pay $614 million to settle insider-trading charges in what regulators said was the largest-ever penalty for such cases. Billionaire Steven A. Cohen, who founded the company, was not accused of any wrongdoing and not named in the settlements. The case has fueled speculation that Cohen may be the ultimate target of the investigation by the Securities and Exchange Commission and federal prosecutors. The SEC's deal dwarfs the $400-million fine the agency slapped on junk-bond king Michael Milken, who came to exemplify the rampant sharing of illicit information on Wall Street during the 1980s.
June 15, 2012 | Bloomberg News
Rajat Gupta, who reached the pinnacle of corporate America as managing partner of McKinsey & Co. and as a director at Goldman Sachs Group Inc.and Procter & Gamble, was convicted by a federal jury of leaking inside information to hedge-fund manager Raj Rajaratnam. Gupta, 63, was found guilty of securities fraud and conspiracy by a federal jury in Manhattan today in its second day of deliberations. The trial began May 21. Securities fraud carries a maximum prison sentence of 20 years.
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