November 8, 2011
Rajaratnam Fined $92.8 Million in Civil Insider Trading Case
Judge Jed Rakoff imposed a $92.8 million civil monetary penalty on Raj Rajaratnam in the SEC's civil enforcement action against him, marking the largest penalty ever assessed against an individual in an SEC insider trading case. In the criminal proceeding, Rajaratnam was sentenced to 11 years in prison and was ordered to pay more than $53.8 million in forfeiture of illegal gains and a $10 million criminal fine. Thus, the grand total of monetary sanctions is more than $156.6 million.
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