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jerryking : raj_rajaratnam   23

Comments on Rajat Gupta’s Lust for Zeros

I am an Indian woman married to a Caucasian American. My husband has toiled away raising funds for non-profit organizations that fight to end hunger and violence against women an...
letters_to_the_editor  Raj_Rajaratnam  Rajat_Gupta 
may 2013 by jerryking
For Gupta Trial, Tension and Tips -
Raj_Rajaratnam  Rajat_Gupta 
may 2012 by jerryking
Rajat Gupta Trial May Hinge on Fate of Three Key Wiretaps -

U.S. vs. Gupta: The Wiretaps
Insider-Trading Trial of Ex-Goldman Director Could Swing on Admissibility.

Beyond simply explaining the calls between Messrs. Gupta and Rajaratnam, the tapes are the kind of high-impact evidence that can often sway jurors, according to experts on defense strategies.

"It allows the government to tell the story in more depth," said Michael Weinstein, a white-collar attorney at Cole Schotz in Hackensack, N.J., and a former prosecutor. "It's unvarnished, and juries like that."

Mark J. Stein, a defense attorney at Simpson Thacher & Bartlett LLP in New York, said the tapes are "critically important" because without them, the government will have to ask jurors to make the leap that Mr. Gupta must have tipped Mr. Rajaratnam because of suspiciously timed phone calls and trades.

"It brings some meat to what otherwise seems to be a very circumstantial case," he said.
wiretaps  eavesdropping  Rajat_Gupta  legal_strategies  Raj_Rajaratnam 
may 2012 by jerryking
Ex-Goldman Director Faces New Insider Trading Claim -
April 16, 2012, 4:15 pmLegal/Regulatory
Ex-Goldman Director Faces New Insider Trading Claim

Rajat K. Gupta, the former director of Goldman Sachs and Procter & Gamble who is accused of leaking secret corporate information to the convicted hedge fund manager Raj Rajaratnam, faces a new insider-trading claim.

In a letter filed with the court, the government accused Mr. Gupta of leaking to Mr. Rajaratnam sales forecasts for Procter & Gamble in late 2008.

Mr. Gupta tipped Mr. Rajaratnam off about “P.& G.’s organic sales growth forecast for the October-to-December quarter prior to P.& G.’s public announcement on or about Dec. 11, 2008,” said the letter, which was made public on Monday.
Rajat_Gupta  insider_trading  P&G  Raj_Rajaratnam 
april 2012 by jerryking
Rajaratnam Faces Longest-Ever Insider Prison Term -
OCTOBER 13, 2011 | WSJ | By CHAD BRAY.

Raj Rajaratnam, the face of the biggest trading scandal in a generation, is expected later this morning to be sentenced to a prison term that could be one of the longest-ever handed down for an insider case.

Enlarge Image
Associated Press

Raj Rajaratnam

Prosecutors are seeking a sentence of 19 years and seven months to 24 years and five months behind bars during a hearing that is due to begin at 10:30 a.m. Eastern time today. Mr. Rajaratnam's lawyers—citing health problems, among other factors—have been urging the judge to consider a much more lenient sentencing range of 6½ years to 8 years and 1 month.

The one-time hedge-fund titan's prison term could very well exceed 10 years, legal experts said, which was the longest sentence imposed for insider trading in New York in the past two decades.
Inside Information

See some recent and infamous cases involving insider trading.

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Associated Press

Michael Milken arrived at New York State Supreme Court in Manhattan for his arraignment on April 7, 1989.

The 54-year-old co-founder of Galleon Group, who was convicted of five counts of conspiracy and nine counts of insider trading in May, was accused by prosecutors of being at the center of the one of the biggest insider-trading schemes ever unearthed. Mr. Rajaratnam is the highest-profile person to be prosecuted, so far, as part of a broad U.S. government crackdown.
insider_trading  Raj_Rajaratnam  sentencing  incarceration 
october 2011 by jerryking
Lawyers at odds over Rajaratnam’s profits -
October 4, 2011 | FT | By Kara Scannell in New York.

US prosecutors and lawyers for Raj Rajaratnam, the convicted founder of Galleon Group, squared off in court on Tuesday over how to measure profits the hedge fund founder made from insider trading.

The judge asked the government to submit additional profit calculations and said he would announce his ruling at next Thursday’s sentencing hearing.
On this story
Prosecutors say Mr Rajaratnam should serve between 235 and 293 months, or a minimum sentence of 19 ½ years, based on gains they now allege exceeded $70m and enhancements for being a leader of the conspiracy and obstructing the government’s investigation during an interview with the Securities and Exchange Commission.

Mr Rajaratnam’s lawyers argued that a better estimate was $7.4m in personal gains, which would place his sentence without any enhancements between six and eight years.
Raj_Rajaratnam  insider_trading  legal_strategies  sentencing_guidelines  SEC  Wall_Street  hedge_funds 
october 2011 by jerryking
WSJ: Galleon and the Trouble With Insider Trading
Jan/Feb 2010 | The Corporate Board | Andy Kessler.

Information now travels at the speed of light. The edge to human traders
is mostly gone, arbitraged out by fast computers.
Near-term blips in stocks will always be driven by those with industry
contacts, legal or illegal. The only way to truly beat the market long
term is to use your head, think out long-term trends, figure out where
productivity and therefore wealth is being created in the economy,
and invest alongside it. This might include investing in wireless commerce, gigabit broadband, personalized prescription drugs, oil shale extraction, or electric smart grids that can better allocate power to where it is needed.
[January 06, 2020 |WSJ| Tech Will Rule These ’20s, Too by Andy Kessler]
So what’s next? My fundamental rule for finding growth trends is that you need to see viable technologies today, and then predict which ones will get cheaper and better over time. Microprocessors, storage, bandwidth—all still going strong after half a century.
2020s  alpha  Andy_Kessler  arbitrage  beat_the_market  broadband  commoditization_of_information  hydraulic_fracturing  ideas  insider_trading  JCK  long-term  personalization  power_grid  productivity  productivity_payoffs  Raj_Rajaratnam  shale_oil  smart_grid  strategic_thinking  technology  traders  trends  trend_spotting  wealth_creation 
june 2011 by jerryking
Galleon Defense Worked—To a Point -

Some in Hand-Picked Jury Found Rajaratnam Sympathetic. And Guilty, Too
legal_strategies  insider_trading  juries  courtroom_process  case_management  Raj_Rajaratnam 
may 2011 by jerryking
THE GALLEON TRIAL U.S. Attorney Sends a Message to Wall Street
21 months as United States attorney, Preet Bharara has had a major
impact on corporate crime.
Every few days during the trial of Raj Rajaratnam, the Galleon Group’s
co-founder, Preet Bharara, the United States attorney for the Southern
District of New York, would quietly enter the courtroom and take a seat
in the last row of the gallery.

From that unassuming vantage point, Mr. Bharara watched his colleagues
try to persuade a jury to convict the former hedge fund titan of
securities fraud and conspiracy.

The consistent presence of Mr. Bharara at the largest insider trading
case in a generation — and the office’s resounding victory on Wednesday —
signaled that the chief federal prosecutor in Manhattan was back as the
sheriff of Wall Street.
legal  legal_system  profile  Preet_Bharara  insider_trading  prosecutors  hedge_funds  Raj_Rajaratnam  Wall_Street 
may 2011 by jerryking
Galleon Chief’s Web of Friends Proved Crucial to Scheme
MAY 11, 2011| NYT | by PETER LATTMAN AND AZAM AHMED. What made
Rajaratnam stand out was not his proprietary computer models nor his
skills in security analysis. Instead, colleagues marveled at the deep
set of contacts he had cultivated inside Silicon Valley executive suites
and on Wall Street trading floors.

Many of Mr. Rajaratnam’s tipsters came from the South Asian immigrant
community, a relatively small group of Indians, Pakistanis and Sri
Lankans who over the past several decades have made their mark in
finance and technology. ... .All these contacts formed the core of
Rajaratnam’s vast information network. From his office on Madison
Avenue, Rajaratnam collected data about technology companies and then
swapped it with sources across the globe. He spoke of getting an edge to
beat the stock market, and for Mr. Rajaratnam, that edge was
insider_trading  hedge_funds  slight_edge  South_Asia  social_networking  immigrants  ethnic_communities  Raj_Rajaratnam 
may 2011 by jerryking
The Galleon Case Is Nowhere Near Over
May 11, 2011, 2:48 pm Legal/Regulatory | White Collar Watch

legal_strategies  insider_trading  Raj_Rajaratnam 
may 2011 by jerryking
Rajaratnam Found Guilty -
May 11, 2011, 10:50 am Legal/Regulatory | The Galleon Trial
Galleon’s Rajaratnam Found Guilty
insider_trading  insider_information  hedge_funds  Raj_Rajaratnam 
may 2011 by jerryking
Raj's defense gamble is smarter than it looks
4/20/2011 | Breakingviews | By Reynolds Holding. The author is a
Reuters Breakingviews columnist. The opinions expressed are his own)
legal_strategies  insider_trading  hedge_funds  Raj_Rajaratnam 
april 2011 by jerryking
Rajaratnam: Relentless Pursuit of Data -
OCTOBER 24, 2009 | Wall Street Journal | by GREGORY ZUCKERMAN
and ROBERT A. GUTH. The power of the "edge," as Mr. Rajaratnam called
it, also was reflected in how Galleon was organized. At most hedge
funds, traders are supposed to simply execute a firm's trades, which are
dictated by analysts and portfolio managers. Galleon had a different
approach: putting traders in charge of their own capital. A trader who
showed promise would sometimes be given $25 million to $50 million to
invest in a semi-autonomous fashion. To be sure, gathering information
is the lifeblood of most hedge funds. But when it is material, nonpublic
information about a company, it can expose a trader to accusations of
insider trading.
insider_information  Wall_Street  insider_trading  information_flows  private_information  hedge_funds  Raj_Rajaratnam  slight_edge  nonpublic  traders 
october 2009 by jerryking

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