Tuesday, March 8, 2011
According to Bloomberg, Raj Rajaratnam just pulled Judge Richard Howell for his insider trading case. You'll remember that Judge Howell came down hard on Eugene Plotkin, a former Goldman Sachs banker whose international insider trading scam should be taught to all investment bankers and young lawyers as examples of hubris and doing all the wrong things. It's got all the elements of a bad movie - hiring a guy to steal advance copies of Business Week, trading ahead of client deals, funneling trades through an aunt's account in Croatia. You couldn't ask for more. Anyway, Judge Howell came down hard on Plotkin, calling him a person "with no moral compass" before he sentenced him to 57 months. Rajaratnam is probably hoping things will go better.