Bail Hearing For Hedge Fund Founder Raj Rajaratnam
The three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan did not indicate at Wednesday's hearing which way it was leaning in the question over Raj Rajaratnam's freedom.
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The three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan did not indicate at Wednesday's hearing which way it was leaning in the question over Raj Rajaratnam's freedom.
The Galleon Group founder also was fined $10 million. U.S. District Judge Richard J. Holwell announced the sentence after concluding that Rajaratnam made well over $50 million in profits from his illegal trades.
If federal prosecutors have their way, Rajaratnam will get between 19 1/2 and 24 1/2 years in prison for what they say were more than $72 million in profits for himself and his Galleon Group of hedge funds.
Judge Richard Holwell said he wanted to send a warning to Wall Street; but he still gave Chiesi less than the 3 to 4 years that prosecutors had sought.
Hedge fund manager Danielle Chiesi will be sentenced next week after pleading guilty in what prosecutors have said was the biggest hedge fund insider trading probe in history.
The jury that returned a guilty verdict to all charges against a one-time billionaire hedge fund founder proved to have a voracious appetite for the audiotapes of him talking to fellow traders and friends at public companies about stocks he wanted to trade.
A former Wall Street titan was convicted Wednesday of making a fortune by coaxing a crew of corporate tipsters to give him an illegal edge on blockbuster trades in technology and other stocks.
The judge let jurors leave early on Friday. It was their fifth day of weighing the fate of the hedge fund manager.
One-time billionaire Raj Rajaratnam listened quietly as prosecutors have labeled him a Wall Street cheater. His own lawyers insist he acted honorably. A jury will be left to decide who's right.
A Wall Street hedge fund manager bragged in a 2008 conference call about making a massive illegal trade only moments before the market closed, according to prosecutors.
Adam Smith said Tuesday that Raj Rajaratnam's Galleon firm used the information to "get an edge" on massive trades.
Rajaratnam was accused at the federal trial of teaming up with workers in the hedge fund industry and employees of public companies to share inside information.
Prosecutors said Rajiv Goel and the defendant, Raj Rajaratnam, were caught on a wiretap discussing a closed-door meeting in 2008 of the Intel board of directors.
The trial was set to resume Monday in Manhattan federal court for Galleon Group founder Raj Rajaratnam. He's the only one of more than two dozen people charged in the insider trading crackdown to face trial. Nineteen have pleaded guilty.
Rajaratnam was represented in court by seven lawyers as a pool of about 100 potential jurors was questioned by Holwell to make sure they had no personal history or biases that would interfere with their ability to judge the case fairly.
Raj Rajaratnam of New York City was to be introduced Tuesday to some of the prospective jurors in the pool available to hear the case.
A co-defendant of hedge fund operator Raj Rajaratnam pleaded guilty Wednesday to federal charges in a case that has led to an ever-widening probe of insider trading within the securities industry.
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Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
NYPD officers fatally shot a man in Queens after he allegedly charged at them with a knife during an argument with his father.
Mamdani's inauguration as New York's mayor on Jan. 1 will be highlighted by a public block party on Broadway, his transition team says.
NYPD officers fatally shot a man in Queens after he allegedly charged at them with a knife during an argument with his father.
Snow and rain will return to the New York City area before Christmas. The weather could cause some travel problems.
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Snow and rain will return to the New York City area before Christmas. The weather could cause some travel problems.
Today is a First Alert Weather Day as heavy rain and 50-60 mph wind gusts cause coastal flooding, downed trees and power outages.
Thursday will bring even more relief, with highs near 50° and a taste of early spring in December. But don't get too comfortable—changes are brewing.
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A large water main break in Waterbury, Connecticut, is impacting tens of thousands of residents.
Totowa Police Chief Carmen Veneziano was indicted for allegedly confining and attacking a woman in a Boston hotel room.
Snow and rain will return to the New York City area before Christmas. The weather could cause some travel problems.
If you're flying out for the holidays, this is the time when airports flip the switch from busy to brutal.
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An NJ Transit spokesperson said two trains on the Montclair-Boonton Line collided, causing one train car to derail.
Researchers on Long Island say they've found physical evidence of PTSD in World Trade Center first responders.
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The suspect in the 1997 murder of a woman and her daughter whose bodies were found near Gilgo Beach appeared before a judge in Mineola on Thursday morning.
The car appeared to plow into the garage of a home on East Broadway in Woodmere just before 3 a.m. Thursday.
Today is a First Alert Weather Day as heavy rain and 50-60 mph wind gusts cause coastal flooding, downed trees and power outages.
Mamdani's inauguration as New York's mayor on Jan. 1 will be highlighted by a public block party on Broadway, his transition team says.
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The episode has deepened concerns that had already emerged from the Justice Department's much-anticipated document release.
President Trump initially signaled he would not make an endorsement at this stage, but Rep. Elise Stefanik's exit cleared the way for him to show his support for Bruce Blakeman.
Republican Rep. Elise Stefanik's decision to drop out came after President Trump signaled he would not make an endorsement in the race at this stage.
A spike in measles cases in Rockland County has New York health officials urging families to get vaccinated.
Researchers on Long Island say they've found physical evidence of PTSD in World Trade Center first responders.
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There are at least 500 sudden and unexpected deaths in the city each year, and in roughly a fifth of those cases, a genetic cause can be detected.
UnitedHealthcare and NewYork-Presbyterian have roughly two weeks to reach an agreement or thousands of Medicare Advantage members could be forced to find care elsewhere.
Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
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The special features interviews with Kathy Bates, Annette Bening, Albert Brooks, Michael Douglas, Kiefer Sutherland, Jerry O'Connell and Mandy Patinkin.
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Josh Norris got the deciding goal in the shootout and the Sabres beat the Islanders 3-2 on Saturday for their fifth straight win.
The Rangers killed off two penalties in overtime on the way to beating the Flyers 5-4 in a shootout on Saturday.
Stefan Noesen and Connor Brown each scored goals, Nico Hischier had two assists, and the New Jersey Devils beat the Utah Mammoth 2-1 on Friday night.
The 76ers became just the second visiting team to win at Madison Square Garden this season, beating the Knicks 116-107 on Friday night.
Nine Brooklyn Football Club partner bars are collecting shelf-stable food and winter coats to benefit 10 local schools.
The Davis Center in Harlem is now open for its first winter season after technical delays.
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The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
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A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
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Police said a 40-year-old man got into an argument with another man who stabbed him multiple times on the subway in Queens.
