Rajaratnam Pushes For Bail During 2nd Circ. Appeal

Law360, New York (November 30, 2011, 1:04 PM EST) -- Raj Rajaratnam, the Galleon Group LLC founder sentenced to 11 years in prison for insider trading, should be allowed to remain free while he appeals his conviction, his lawyer told the Second Circuit on Wednesday.

It was unlikely that the ailing hedge fund company founder would attempt to flee to his native Sri Lanka as prosecutors contended, Patricia A. Millett of Akin Gump Strauss Hauer & Feld LLP said at a hearing before a three-judge panel.

“All his family are here. All his resources are here....
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