Rajaratnam Agrees to Pay $1.5 Million to Settle SEC Case
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Galleon Group LLC co-founder Raj Rajaratnam, who is serving 11 years in prison for insider trading, agreed to pay $1.5 million to settle a civil case brought by the U.S. Securities and Exchange Commission.
Rajaratnam agreed to pay $1.3 million representing profits gained and losses avoided as a result of the conduct the SEC alleged in the case, according to a filing yesterday in federal court in New York. He will also pay $147,738 in interest.