U.S. hedge fund manager Raj Rajaratnam has agreed to pay
disgorgement of about $1.5 million in a civil lawsuit filed by the Securities
and Exchange Commission, and to waive his right to appeal the judgment, Reuters reports the court
papers showed.
Rajaratnam would make the payment, representing the profits
obtained by unlawful means, to the SEC within 90 days after the entry of the
final judgment in court records, according to a filing.
Rajaratnam, currently serving a 11-year prison term, was
convicted of securities fraud and conspiracy in May 2011. He was accused of
running a network of friends and associates who leaked corporate secrets to him
for years….
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