Raj Rajaratnam
American investments manager / From Wikipedia, the free encyclopedia
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Rajakumaran Rajaratnam (born June 15, 1957) is a Sri Lankan-American former hedge fund manager and founder of the Galleon Group, a New York-based hedge fund management firm.[4][5] He is also the author his memoir, Uneven Justice: The Plot to Sink Galleon.
Raj Rajaratnam | |
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Born | Rajakumaran Rajaratnam[1] (1957-06-15) June 15, 1957 (age 66)[2] |
Citizenship | American[3] |
Alma mater | |
Occupation | Hedge fund manager |
Relatives | J. M. Rajaratnam (father) Rajeswari Muttucumaru (mother) Rengan Rajaratnam (brother) Rajakanthan Rajaratnam (brother) Shanthini Rajaratnam (sister) Vathani Rajaratnam (sister) |
In 2008, Raj was listed as the 262nd richest man in the United States, according to the latest Forbes list of the 400 Richest Americans.[6]
On October 16, 2009, he was arrested by the FBI for insider trading, which also caused the Galleon Group to fold.[7] He stood trial in U.S. v. Rajaratnam (09 Cr. 01184) in the United States District Court for the Southern District of New York, and on May 11, 2011, was found guilty on all 14 counts of conspiracy and securities fraud.[8] On October 13, 2011, Rajaratnam was sentenced to 11 years in prison[9] and fined a criminal and civil penalty of over $150 million combined.[10]
Rajaratnam was incarcerated at Federal Medical Center, Devens in Ayer, Massachusetts, an administrative facility housing male offenders requiring specialized or long-term medical or mental health care. Rajaratnam was released to home confinement in his Upper East Side Manhattan apartment, located on Sutton Place, in the summer of 2019.
Rajaratnam being released after 7 1/2 years, published his memoir, Uneven Justice, detailing the events surrounding his insider trading conviction and the alleged prosecutorial overreach he claims took place.