Raj Rajaratnam gets record fine of $92.8m for insider trading
(Srilankamirror) - The convicted insider trader, Sri Lankan born Raj Rajaratnam, has been handed a record fine by the Securities and Exchange Commission in a civil case.
A judge ordered the former founder of Galleon Group, a hedge fund, to pay 92.8 million dollars in penalties, BBC reports.
This comes on top of the $63.8 m lawyers say he has already paid out in the criminal case.
Rajaratnam was sentenced in October to 11 years in jail for one of the biggest insider trading cases in American history.
