Rajaratnam May Face $100M In Additional Penalties

Law360, New York (October 28, 2011, 7:06 PM EDT) -- Raj Rajaratnam, the Galleon Group LLC founder handed an 11-year prison sentence and $64 million in penalties for insider trading, may face an additional $100 million in fines, a New York federal judge indicated Friday.

Though the criminal case against Rajaratnam has finished and is already being appealed, a less well-known U.S. Securities and Exchange Commission civil case against him continues. Rajaratnam's lawyers have admitted he is liable in that action, and the commission wants him to pay up.

U.S. District Judge Jed S. Rakoff indicated...
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