Raj Rajaratnam, the hedge fund manager sentenced to 11 years in prison for insider trading, was assigned to a federal prison medical center in Massachusetts, according to a person familiar with the matter.
Ex-Qwest Communications International Inc. chief Joseph Nacchio shouldn’t be allowed an income tax deduction for the $44.6 million he forfeited after his conviction for insider trading because it would undercut his punishment, a government lawyer said.
Former Goldman Sachs Group Inc. Director Rajat Gupta, convicted of insider trading in a scheme masterminded by hedge fund billionaire Raj Rajaratnam, joined his co-conspirator in a Massachusetts federal prison to begin serving a two-year sentence.
Neff Corp ., a closely held equipment- rental company with 63 branches in 14 U.S. states, began a prepackaged Chapter 11 reorganization yesterday in New York, with holders of $90 million on a first-lien term loan to own most of the new equity.
Rajat Gupta, the former Goldman Sachs Group Inc. director convicted in a 2012 insider trading scheme tied to the Galleon Group LLC hedge fund, agreed to surrender to prison authorities on June 17 to begin a two-year sentence, a federal judge in Manhattan said.