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Raj Rajaratnam

January 19, 2012 | By Nathaniel Popper, Walter Hamilton and Matt Stevens, Los Angeles Times
The arrest of a South Pasadena investment manager on insider trading charges extended the government's sweeping investigation beyond Wall Street into a remote outpost of the investment world. Danny Kuo, a technology expert at Whittier Trust Co., was taken into custody by FBI agents in the cold pre-dawn hours Wednesday at his two-story Spanish-style home in a residential neighborhood. Unlike the dozens of high-level hedge fund managers who have been arrested in the government's four-year crackdown on illicit trading, Kuo, 36, toiled at a mid-size 77-year-old firm that keeps a low profile and caters to rich families.
June 15, 2012 | By Andrew Tangel
A jury has convicted former Goldman Sachs director Rajat Gupta in his high-profile insider-trading case in New York. A federal jury had been weighing Gupta's fate for two days. The jury of eight women and four men found Gupta guilty of four criminal counts in a wide government push against insider trading. Gupta was found guilty of three counts of securities fraud and one count of conspiracy for leaking stock tips to Raj Rajaratnam, head of the Galleon Group hedge fund. He was acquitted on two counts of securities fraud.
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.
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.
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 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.
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.
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.
October 17, 2011 | By Larry Harris
Last week, hedge fund tycoon Raj Rajaratnam was sentenced to a record 11 years in prison for insider trading: making a killing by buying and selling stocks using information that most of us didn't and couldn't know. The media emphasized the "symbolic significance" of the long sentence. But as the Securities and Exchange Commission and the Department of Justice celebrated, others asked: "Why do we even have these rules? How do you draw the line between smart research and illegal information?
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