Rajaratnam Gets Record $93M Fine In SEC Case

Law360, New York (November 8, 2011, 6:21 PM EST) -- A New York federal judge on Tuesday ordered prison-bound Galleon Group LLC founder Raj Rajaratnam to pay $92.8 million in a U.S. Securities and Exchange Commission case against him, the largest insider trading penalty the SEC has secured.

“This case cries out for the kind of civil penalty that will deprive the defendant of a material part of his fortune,” U.S. District Judge Jed S. Rakoff said in a written order.

Once a power on Wall Street, Rajaratnam has through the government's efforts become arguably the...
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