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Partner Robert Ray Discusses Hedge Fund Founder Raj Rajaratnam’s Recent Sentencing
The Wall Street Journal and Washington PostOctober 14, 2011
Press Release and Media Coverage
Pryor Cashman Litigation Partner, Robert W. Ray, was quoted in The Wall Street Journal’s article, “Rajaratnam Gets Longest Insider Sentence.”
According to the October 13, 2011 article, while prosecutors had sought a sentence of up to 24 years and five months behind bars, hedge-fund founder, Raj Rajaratnam, was sentenced to 11 years in prison, stemming from a recent conviction of securities fraud and insider trading. United States District Judge Richard Holwell, who imposed the sentence, also ordered Mr. Rajaratnam to pay a $10 million fine and to forfeit $53.8 million.
Mr. Ray, a former federal prosecutor experienced in white collar criminal defense, told the publication, the sentence, while less than prosecutors sought, is “still a pretty strong message and a severe one.”
To read the entire article, please click here.
To read Mr. Ray’s response in the Washington Post, please click here.
