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.
A fire at a Bronx building left at least 11 people injured after a report of an explosion, firefighters said.
Jennifer Lackard, a former deputy commissioner in the Mount Vernon Police Department, was arraigned on the same charges Tuesday.
The Medical Aid in Dying law allows terminally ill adults to request a doctor to prescribe them lethal medication.
Harlem Week 2026 brings past and present Harlemites together to honor the neighborhood's legacy.
Actor and comedian Bowen Yang will portray Mary Todd Lincoln in Broadway's "Oh, Mary!" for a limited 12-week run starting in September.
A fire at a Bronx building left at least 11 people injured after a report of an explosion, firefighters said.
Jennifer Lackard, a former deputy commissioner in the Mount Vernon Police Department, was arraigned on the same charges Tuesday.
The Medical Aid in Dying law allows terminally ill adults to request a doctor to prescribe them lethal medication.
Harlem Week 2026 brings past and present Harlemites together to honor the neighborhood's legacy.
Actor and comedian Bowen Yang will portray Mary Todd Lincoln in Broadway's "Oh, Mary!" for a limited 12-week run starting in September.
New York City and parts of New Jersey were under a flood watch due to downpours and strong storms Monday.
Stormy weather will return to the New York City area on Monday, bringing the threat of heavy rain and storms that may lead to flash flooding.
There's been a report of a bigfoot sighting near the Pachaug State Forest in Connecticut.
Heavy rain is complicating efforts to recover a teenage boy from the West River in New Haven. Strong currents and an increased flow have made the job even more difficult.
It's another rainy day in the Tri-State Area with a flood watch for parts of New York and Connecticut.
The family of a man who died at the Delaney Hall immigration detention center in Newark, New Jersey, is demanding justice.
Protesters gathered at the gates of Delaney Hall immigration detention center in Newark, New Jersey, Monday following the death of an ICE detainee.
The power was restored Tuesday morning after going out at the American Dream Mall in East Rutherford, N.J. Monday afternoon.
Strong downpours have dumped rain on parts of New York and New Jersey that are still recovering from last week's severe weather.
New York City and parts of New Jersey were under a flood watch due to downpours and strong storms Monday.
Communities across New York City and Long Island came together Tuesday for National Night Out.
On Long Island, a farm is helping kids cope using therapy horses. CBS News New York's John Dias reports.
Suffolk County Police are trying to identify an Asian man whose body was discovered on Gilgo Beach in 2011.
A Columbia University medical student is recovering after being shot in the face by Nassau Police. Police say he charged at officers with a knife Monday night. CBS News New York's Carolyn Gusoff reports.
A Nassau County police officer shot a man in the face after he allegedly smashed a patrol car window with a knife in Westbury, Long Island, police said.
The Medical Aid in Dying law allows terminally ill adults to request a doctor to prescribe them lethal medication.
Federal authorities arrested a man who appeared to be monitoring security-planning activities at Trump National Golf Club in LA County ahead of the president's Southern California visit.
In total, 17 bills will be introduced in the City Council next month to increase safety regulations around e-bikes and e-scooters, while also strengthening enforcement of existing laws.
Protesters gathered at the gates of Delaney Hall immigration detention center in Newark, New Jersey, Monday following the death of an ICE detainee.
Some 9/11 families are defending New York City Mayor Zohran Mamdani's inclusion in this year's solemn remembrance ceremony after an online petition asked he not attend.
The source of exposure for the Legionnaires cluster on Manhattan's Upper East Side has been eliminated, according to the New York City Health Department.
A seventh person has died from Legionnaires' disease in connection with the Upper East Side cluster, New York City's health commissioner said Thursday.
Thirty-four cooling towers at 33 buildings on the Upper East Side tested positive for live Legionella bacteria, the New York City Health Department announced Tuesday.
An attorney representing an Upper East Side woman whose husband just died from Legionnaires' disease is planning to take legal action.
Studies show older adults are among the safest drivers on the road, but crashes involving seniors are on the rise.
Actor and comedian Bowen Yang will portray Mary Todd Lincoln in Broadway's "Oh, Mary!" for a limited 12-week run starting in September.
Designer John Galliano is known for his theatrical and dramatic designs, but his legacy is also marked by antisemitic and racist comments.
"The Sopranos" actor Vincent Pastore is being remembered as a fixture in his Bronx community.
Vincent Pastore played Salvatore "Big Pussy" Bonpensiero on all six seasons of "The Sopranos," which aired from 1999 to 2007.
A new Broadway show based on Prince's movie and album "Purple Rain" will take the stage at Broadway's Majestic Theatre in March.
The New York Yankees beat the St. Louis Cardinals 2-0 on Tuesday night.
The New York Mets defeated the Cleveland Guardians 6-2 on Tuesday night to snap a three-game losing streak.
The Chicago Cubs acquired pitcher Clay Holmes and outfielder Tyrone Taylor from the last-place New York Mets on Monday for touted infield prospect Jefferson Rojas.
José Caballero lined a two-run homer, Gerrit Cole pitched into the sixth inning and the New York Yankees hung on to top the Chicago Cubs 2-1 on Sunday.
The Miami Marlins beat the Mets 2-0 Sunday shortly after New York traded opening day starter Freddy Peralta to Tampa Bay.
Harlem Week 2026 brings past and present Harlemites together to honor the neighborhood's legacy.
Parents in Harlem say their children's walk to summer camp is littered with trash, illegal dumping and a growing encampment.
A specialized program from God's Love We Deliver is serving nearly 400 veterans with medically tailored meals, while helping combat isolation and ease the challenges of life after military service.
The Newtown Creek Alliance community science project gives students hands-on experience monitoring the health of one of the most polluted waterways in the U.S.
The FIFA World Cup is delivering a business boost for many bars and restaurants across New York City, but not every industry is seeing the same payoff.
People dressed in elaborate headgear and paraded up Fifth Avenue for New York City's Easter Sunday tradition.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
The annual Easter Parade and Easter Bonnet Festival was held in Manhattan on April 20, 2025.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Law enforcement contributor Rich Esposito explains challenges of enforcing e-bike and e-scooter speed limits, license requirements and more.
It should be mostly dry Wednesday, but the rain change increases Thursday as the humidity ramps up. CBS News New York Meteorologist John Elliott has the forecast.
Celebrity gossip journalist Perez Hilton was taken to a hospital in Miami on Tuesday night after livestreaming "acts of self-harm" on social media, police said.
Jennifer Lackard, the former deputy commissioner for wellness in the community affairs division of the Mount Vernon Police Department, was arraigned on the same charges Tuesday. CBS News New York's Christina Fan reports.
Sanitation workers will be placing large neon green stickers on the cars of drivers who fail to move their cars for alternate-side parking rules. CBS News New York's Elijah Westbrook reports.
