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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Raj Rajaratnam Reportedly Pampered Behind Bars

Aug 27, 2013
Jing Chen

Convicted hedge fund manager Raj Rajaratnam is reportedly living in luxury as he serves his 11-year sentence for insider trading in a federal prison.

An anonymous source told the New York Post that Galleon Group founder Rajaratnam is “reigning like a king” living in a private cell with a shared balcony in a coveted part of the prison, usually reserved for the elderly and the seriously ill.

Other perks in the unit include private toilets, adjustable beds and televisions. Rajaratnam even has a “manservant” to cook him food in the nearby microwave when the former hedge fund manager does not feel like making the trip to the dining hall.

Rajaratnam was convicted in 2011 on 14 counts of insider trading and fraud in one of the biggest insider trading cases brought on by the U.S. government.

 

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