Less than two weeks ago, Raj Rajaratnam was sentenced to 11 years in prison, after being convicted on 14 counts of securities fraud and conspiracy last May. Over the course of the trial, Raj had remained silent, choosing not to take the stand on his own behalf and offering no sound bites to reporters outside the courthouse, speaking only when it was absolutely necessary (to request “extra mayo“) and allowing his lawyer, John Dowd, to do the talking (asking a Wall Street Journal reporter how long one could reasonably expect him to continue “sucking on [U.S. Attorney for the Southern District of New York Preet] Bahara’s teat,” declaring the guilty verdict a “23-14 victory” for the defense, and telling CNBC to “get the fuck out of here“). Recently, however, the former hedge fund manager decided to open up, allowing a reporter into his home where he pulled the curtain back on how this whole thing went down, starting with the state in which the Feds found him that fateful morning.
It was 6 a.m. on Oct. 16, 2009, and Raj Rajaratnam, head of the Galleon Group hedge fund, was at home on* his exercise bike looking out over Manhattan’s Turtle Bay.
Raj could have mentioned that he next moved on to shirtless arm curls and was on 1,003 at the exact moment Bhara and his crew busted into the apartment but felt like bragging. For posterity’s sake, though, it should be noted that he did over 1,000.
What he was actually doing at tipster Rajiv Goel’s home all those times, contrary to what the press and the government would have you believe?
…the prosecution noted that Rajaratnam would visit Goel’s house in Silicon Valley, presumably to talk about Intel. But the real explanation is more human. “His wife makes really good chaat [a savory snack]!”
Okay, that’s believable, but what about the material non-public information he got elsewhere? Read more »