Rajaratnam Sentencing Delayed Until October

Law360, New York (September 21, 2011, 7:40 PM EDT) -- A New York federal judge said Wednesday that sentencing day for Galleon Group LLC hedge fund founder and convicted insider trader Raj Rajaratnam will be postponed to Oct. 13.

U.S. District Judge Richard J. Holwell gave no reason for the postponement of Rajaratnam's sentence, originally scheduled for Tuesday. The U.S. Attorney's Office and counsel for Rajaratnam declined to comment Wednesday.

Rajaratnam was convicted in May on 14 counts of securities fraud and conspiracy for allegedly making about $53.8 million in trading profits and avoiding an additional...
To view the full article, register now.