The folks at Reuters report that the judge who will decide the fate of Raj Rajaratnam is set to hear arguments next week over the amount of illicit profits the convicted Galleon Group hedge fund founder collected from insider trading.
The hearing on October 4 is part of U.S. District Judge Richard Holwell's preparations before he sentences Rajaratnam nine days later -- an event expected to be one of the most closely watched sentencing proceedings for an insider trading case in years.
A spokeswoman for the Manhattan federal court and Holwell's courtroom deputy said on Tuesday that the judge had scheduled the hearing over "loss amount" in the case. The judge's determination after hearing arguments from prosecutors and defense lawyers will have an impact on his sentence decision.
In case you’re having an ADD flareup, Rajaratnam was convicted by a jury in May at a two-month-long trial in which the government said his illicit gains amounted to $63 million from insider trading for several years up until his arrest in October 2009…..
Read more at http://www.reuters.com/article/2011/09/27/us-galleon-rajaratnam-idUSTRE78Q40H20110927
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