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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