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Hedge Fund Founder Convicted in Inside-Trade Case


NYC jury convicts hedge fund founder of conspiracy, fraud in massive insider trading case.


"Prosecutors said (Raj) Rajaratnam faces a maximum term of more than 19 years in prison.

U.S. Attorney Preet Bharara said the verdict sends a message that white collar laws apply to everyone, "no matter how much money you have."


Or, apparently, who benefits from your political donations.

According to Open Secrets, Mr. Rajaratnam liked to donate to democrat politicians.

A lot. 

Search Criteria:
Donor name: Rajaratnam, Raj
Cycle(s) selected: All

Out of the $87,100 total that Rajaratnam donated to politicians or political committees, $83,100 went to democrats.

The Democratic Senatorial Campaign Committee and something called the DNC Services Corp. were by far the largest benefactors, banking in a total of $52,900 between them during 2006-08.

The most favored individual politician of  Mr. Rajaratnam's largess?  Hillary Clinton, depositing $11,100 during her time as the democrat Senator from NY.  Let's hope Mrs. Clinton will return this ill gotten gain as she did with the nearly $800,000 she received from Democratic fundraiser Norman Hsu. He was arrested & convicted of violating campaign finance laws back in 2009.

Plus, arch swindler and convicted con man (now deceased) Bernie Madoff also liked to donate big to democrat politicians. Sen. Charles Schumer(D-NY) was blessed with over $29,000 from Madoff. Further down on Madoff's list was Sen. Hillary Clinton (D-NY) who received $9,000 for her Senate and failed presidential campaigns. Some of that tainted money was donated to charities.

Finally, since Pres. Obama is such a stand up guy when it comes to transparency, especially with campaign contributions, any bets if Obama will return the $4600 in campaign contributions he received from Mr. Rajaratnam?


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Comments (19)

I blame the Koch Bothers!</... (Below threshold)
Sep14:

I blame the Koch Bothers!

One scapegoat. Fi... (Below threshold)
Chico:

One scapegoat.

Fine, now roll on to indicting the mortgage securitization fraudsters like the "Fabulous Fab" and Jim Cassano and half of Goldman Sachs.

One reason why I think Obama is weak and mediocre is that he and Holder have not cleaned house on Wall Street and punished those responsible for screwing the economy.

I will give credit to Bush - at least he prosecuted the Enron fraudsters even though they were close to him in Houston.

Chico: please specify the l... (Below threshold)

Chico: please specify the law which the targets or your ire have allegedly broken.

please specify the law w... (Below threshold)
Chico:

please specify the law which the targets or your ire have allegedly broken.

Wire fraud, to start. Misrepresenting the value and the rating of mortgage-backed securities and other derivatives to buyers and insurance companies in interstate communications. I'm sure there's a few other securities fraud statutes they could go down on.

Chico"and half of ... (Below threshold)
retired military:

Chico

"and half of Goldman Sachs.
"

Is that the half that now works in the Obama WH?

Hillary only got $6,500. I... (Below threshold)

Hillary only got $6,500. It's a little clearer direct from the horse's mouth at the FEC. You can see that one of the $2,300 donations was given back (the one for the general election that she wasn't in). Still, I'm nitpicking.

More importantly, his real favorite recipient? One Barack Hussein Obama. In addition to the direct $4,600 to Obey-Won, he gave the "Obama Victory Fund" a whopping $30,800.

Well, Barry is sure as hell... (Below threshold)
Sep14:

Well, Barry is sure as hell not going to run on his sterling drain swamp Nanfanoakee record.

I think he better stick to things he knows, like 'the race card' and 'cash for Acorn clunker stimuli frauds'.

Rajaratnam merely is the ti... (Below threshold)
Caesar Augustus:

Rajaratnam merely is the tip of the iceberg. For Wall St. has gotten so corrupt it now rivals the Democrat Party.

Sept14"Well, Barry i... (Below threshold)
retired military:

Sept14
"Well, Barry is sure as hell not going to run on his sterling drain swamp Nanfanoakee record.

'

Well why not? THe only names that will show up in the MSM will be republicans

Of course this is only pock... (Below threshold)

Of course this is only pocket change. The Won spends more that that for a night out at McDonalds.

"The Won spends more than t... (Below threshold)
Sep14:

"The Won spends more than that for a night out at Mc Donalds."


Yeah, Barry spends, Chewie eats!

Only in America could a Raj... (Below threshold)

Only in America could a Rajaratnam be prosecuted by a Bharara after a conversation with a Gupta. Have we outsourced our white collar crime and prosecution, too? Our we creating unemployment for American criminals? Outrage!

Diplomad,Now now..... (Below threshold)
Rodney Graves Author Profile Page:

Diplomad,

Now now...

As Teddy (the Good Roosevelt) famously said (I paraphrase), "Americanism" is not an accident of birth, and any who claim the un-hyphenated title of "American" should be treated as such irregardless of nation of birth, color of skin, or creed.

"Clawback," just like "poli... (Below threshold)
Maddox:

"Clawback," just like "political correctness," only applies to those who do not support leftist views? This will be handled in a way that benefits only those who bow to the power of the democrats and wimps who compromise with them. To expect otherwise would be denial that our country is being run by thieves and traitors.

Meanwhile the 1000-times wo... (Below threshold)
Jeff Blogworthy:

Meanwhile the 1000-times worse government corruption / Ponzi schemes continue unabated.

I'd be more outraged if he ... (Below threshold)
Tim:

I'd be more outraged if he got away with it because he donated tons of money. As it stands, he donated but still got himself convicted. That ain't half bad.

Tim,Look up Cliffo... (Below threshold)
Rodney Graves Author Profile Page:

Tim,

Look up Clifford Clark.

Bernie Madoff dead? That's ... (Below threshold)
Saterp:

Bernie Madoff dead? That's wishful thinking, currently.

Wait until the Won is in hi... (Below threshold)
SCSIwuzzy:

Wait until the Won is in his last December in the White House and the pardoning begins in earnest.




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