Story | Jul 19, 2013 | 7:32 PM
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Story | Jul 30, 2013 | 5:00 PMThe U.S. attorney in Manhattan last week announced the criminal indictment of hedge fund SAC Capital Advisors. Some may wonder what is to be gained by the effort and expense. Unlike the case of hedge fund mogul Raj Rajaratnam, who went to prison in 2011 after his conviction for insider trading, here there is no body to jail. And the fine that might be imposed could be obtained more easily in a civil suit, where the standard of proof is lower. Indeed, the cost of the criminal prosecution may be duplicative since civil suits have been won for some of the illegal transactions, and more are in the works.
Story | Jun 16, 2014 | 8:35 AM
Story | Jun 21, 2012 | 4:03 PM
Story | Oct 13, 2011
Hedge fund magnate Raj Rajaratnam was sentenced to 11 years in prison -- the longest sentence ever for an insider-trading case, prosecutors said.