Fugitive Galleon Tipster Must Pay $34.6M: Judge

Law360, New York (August 24, 2011, 1:57 PM EDT) -- A New York federal judge on Tuesday slammed a fugitive former Moody's analyst with $34.6 million in fines for allegedly providing acquisition tips to a source who funneled them to hedge funds, including Raj Rajaratnam's Galleon Group LLC.

U.S. District Judge Jed S. Rakoff ordered Deep Shah to pay $8.2 million in disgorgement and $1.8 million in prejudgment interest as well as a $24.6 million civil penalty — the maximum penalty of three times the alleged profits made from the tips, which the U.S. Securities and...
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