Convicted Barai Founder To Repay $3M For Insider Trading

Law360, New York (January 25, 2012, 3:36 PM EST) -- New York investment advisory firm Barai Capital Management and its founder Samir Barai, who admitted to charges of insider trading in May, consented Monday to pay back $3.4 million in illegally pocketed profits in a civil case brought by securities regulators.

Barai and his company agreed with the U.S. Securities and Exchange Commission to pay back the sum, which includes more than $434,000 in interest, within two weeks, according to separate final judgments in New York federal court.

"The court is not imposing a civil penalty...
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Case Information

Case Title

Securities and Exchange Commission v. Longoria et al

Case Number



New York Southern

Nature of Suit



Jed S. Rakoff

Date Filed

February 2, 2011

Law Firms


Government Agencies

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