Skip to main content

Raj Rajaratnam Defense Argues Anil Kumar Was Paid $1 Million Per Year For "Legitimate" Work

  • Author:
  • Updated:

Kumar was just doing "consulting" work for Raj, okay?

Dowd also asked Kumar about his testimony that he was paid $1 million for his tip about AMD’s acquisition of ATI, suggesting instead that Kumar was being paid for legitimate consulting work.

Who can even tell the difference between working as a 'consultant' and a 'source of information it'd be illegal for someone to trade on'? It's easy to see how people could be confused, there's a lot of gray area here. But it was all just a misunderstanding and this case should be thrown out. No further questions.

Rajaratnam Lawyer Challenges Kumar on Insider Tips, Payments [Reuters]

Related: After the deal was announced, Mr. Kumar said, Mr. Rajaratnam told him, “We’re all cheering you right now. … He said something like, ‘You’re a star, or you’re a hero.”