The Wall Street Journal got our attention with Thursday’s breathless report about Raj Rajaratnam, whom the Murdochian concern dubbed “the face of the biggest trading scandal in a generation,” and his newly dispensed prison sentence, “the longest-ever term handed down for an insider case.” So how long will Rajaratnam be locked up, if he’s unlucky?
Investigators at the United States Trustee Program, which oversees U.S. bankruptcy cases, are collecting mountains of evidence that show that banks industrywide are hurrying huge numbers of borrowers out of their homes prematurely, based on false loan repayment claims. (more)
The founder of the Galleon Group hedge fund, Raj Rajaratnam, faces 25 years in prison after a jury convicted him on 14 charges related to a six-year insider-trading binge that netted him more than $60 million. (more)
Billionaire hedge fund founder Raj Rajaratnam was arrested Friday and charged with running the largest hedge fund insider-trading scheme in history. Charged with Rajaratnam, founder of Galleon Group, were executives of several prestigious U.S. companies.