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Rajaratnam Agrees to Pay $1.5M Disgorgement

Dec 27, 2012
Jing Chen

Former hedge fund manager Raj Rajaratnam has agreed to pay a disgorgement of $1.5 million in a lawsuit filed by the Securities and Exchange Commission.

Reuters reported that Galleon Group founder Rajaratnam, who is serving an 11-year sentence after being convicted of profiting $63.8 billion on trades based on inside information, has also waived his right to appeal the judgment. The article said that Rajaratnam would have to make the payment within 90 days.

Rajaratnam has already paid a total of $156.6 million in penalties.

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