1. Rajakumaran Rajaratnam was born on June 15,1957 and is a Sri Lankan-American former hedge fund manager and founder of the Galleon Group, a New York-based hedge fund management firm.
13 Facts About Raj Rajaratnam
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Raj Rajaratnam is the author of his memoir, Uneven Justice: The Plot to Sink Galleon.
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In 2008, Rajaratnam was listed as the 262nd richest man in the United States, according to the latest Forbes list of the 400 Richest Americans.
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On October 13,2011, Rajaratnam was sentenced to 11 years in prison and fined a criminal and civil penalty of over $150 million combined.
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Raj Rajaratnam attended S Thomas' Preparatory School, Kollupitiya before his family migrated to England in 1971.
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Raj Rajaratnam rapidly rose through the ranks, becoming the head of research in 1987 and the president in 1991, at the age of 34.
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Raj Rajaratnam said that his best ideas came from frequent visits with the companies in which he invested and from conversations with executives who invested in his fund.
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On Friday October 16,2009, Raj Rajaratnam was arrested by the FBI for insider trading in the stock of several publicly traded companies.
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The Sri Lankan stock market fell sharply after Rajaratnam was arrested on insider trading charges in October 2009.
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On May 11,2011, Rajaratnam was found guilty on all 14 counts of conspiracy and securities fraud.
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On October 13,2011, Rajaratnam was sentenced to 11 years in prison by Judge Richard Holwell.
12.
US District Judge Loretta Preska in Manhattan on March 3,2017, rejected Rajaratnam's bid to void much of his insider trading conviction and shorten his 11-year prison sentence, on account of Rajaratnam failing to show his actual innocence on five of the 14 counts on which he was convicted, or that two other counts should be vacated because the main government witness committed perjury.
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Raj Rajaratnam contributed to the Democratic National Committee and various campaigns on behalf of Barack Obama, Hillary Clinton, Chuck Schumer, and Bob Menendez.