This weekend will be the Galleon founder’s last one on the outside for a while.
According to the Wall St Journal former hedge-fund titan Raj Rajaratnam lost his bid and must begin serving his 11-year prison term while he appeals his conviction on insider-trading charges, a federal appellate court ruled Thursday.
In a brief, one-page order, the U.S. Second Circuit Court of Appeals denied his request to remain free on bail while the court considers arguments on whether to overturn his conviction.
Rajaratnam is scheduled to report to prison on December 5 to serve an 11-year term. He has been under house arrest at his Manhattan apartment…
Read more at http://blogs.wsj.com/law/2011/12/01/raj-rajaratnam-loses-bid-for-bail-pending-appeal/
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