Post by account_disabled on Mar 7, 2024 8:32:39 GMT
Financial aid to the victims of the tsunami in Sri Lanka, the earthquakes in Pakistan and the September attacks — billionaire Raj Rajaratnam obtained a reduced sentence. This Thursday (/), a New York court sentenced its "big fish" to "only" years in prison, for fraud in the financial market. The prosecution wanted a sentence of to years. "Prison is a more serious experience for people with serious health
problems," Judge Richard Holwell said in his ruling, according to DealBook .
In any case, the penalty was the largest in US history for an insider trading crime , reported the Washington Post , TimeBusiness and several other publications. An insider is a person with access to privileged information BTC Number Data before it is announced to the public. There's nothing wrong with being an insider . But an insider is prohibited from using his privileged information to carry out transactions in the financial market for his own benefit. This characterizes the crime of insider trad
For the same crime, mega-investor George Soros was convicted BTC Number Data in in France — and has so far been unable to clear his name. Rajaratnam illegally used confidential information to trade shares in Goldman Sachs and Intel, according to the government, which brought the lawsuit against him. With tips from a board member at Goldman Sachs, a partner at the consulting firm McKinsey & Co. and an employee at a hedge fund (the area in which he operated), he would have profited — or stopped losing — about US$ million. The judge put that number in the $ million range. The defense lawyers, US$ million, because the rest would have gone to the investor's company, Galleon Group — the company was fined US$ million.
Like a good big fish, which the American government went out of its way to put behind bars, to serve as an example to other investors tempted to carry out illegal operations on the stock exchange, Rajaratnam was caught by the mouth. Federal agents used an old technique to catch mobsters, drug dealers and other slippery criminals: they tapped his phone. The agents recorded the telephone conversations in which the information was obtained and they were compared with the investor's subsequent operations in the financial market. Some of Rajaratnam's collaborators negotiated with the promoters and became witnesses for the prosecution.
problems," Judge Richard Holwell said in his ruling, according to DealBook .
In any case, the penalty was the largest in US history for an insider trading crime , reported the Washington Post , TimeBusiness and several other publications. An insider is a person with access to privileged information BTC Number Data before it is announced to the public. There's nothing wrong with being an insider . But an insider is prohibited from using his privileged information to carry out transactions in the financial market for his own benefit. This characterizes the crime of insider trad
For the same crime, mega-investor George Soros was convicted BTC Number Data in in France — and has so far been unable to clear his name. Rajaratnam illegally used confidential information to trade shares in Goldman Sachs and Intel, according to the government, which brought the lawsuit against him. With tips from a board member at Goldman Sachs, a partner at the consulting firm McKinsey & Co. and an employee at a hedge fund (the area in which he operated), he would have profited — or stopped losing — about US$ million. The judge put that number in the $ million range. The defense lawyers, US$ million, because the rest would have gone to the investor's company, Galleon Group — the company was fined US$ million.