Hedge Fund News From HedgeCo.Net

Hedge Fund Insider Trading: Rajiv Goel Sentenced To Probation And Fines

New York (HedgeCo.Net) In the latest Galleon hedge fund indictment, Rajiv Goel, a former Intel Corp. executive, received leniency after apologizing saying he was “deeply ashamed….. I had a serious lapse of judgment and good sense.”  The US federal court in New York on Monday sentenced him to two years of probation, a fine of $10,000 and ordered him to forfeit $266,000.

Rajiv testified against a billionaire hedge fund founder and former schoolmate Raj Rajaratnam, who was found guilty on 14 counts of conspiracy and securities fraud in May 2011. Rajaratnam is currently serving an 11-year prison sentence for making insider trades that were alleged to have earned him $75 million illegally.

A panel of three judge from the federal appeals court is scheduled to hear arguments on October 10th from the hedge fund founder in a bid to overturn his insider trading conviction.

Alex Akesson
Editor for HedgeCo.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

Related Posts Plugin for WordPress, Blogger...
This entry was posted in HedgeCo News, Hedge Fund Fraud. Bookmark the permalink.

Leave a Reply