Raj Rajaratnam, the hedge fund manager given the longest sentence for insider trading, may serve that time at a North Carolina prison whose inmates include Ponzi scheme mastermind Bernard Madoff, corporate looter John Rigas and terrorist leader Sheikh Omar Abdel Rahman.
The U.S. Supreme Court left intact Adelphia Communications Corp. founder John Rigas ’s 12-year prison term and his son Timothy ’s 17-year sentence, rejecting their appeal for the second time in the corporate fraud case.
Publisher Tribune Co. filed a modified Chapter 11 plan on Oct. 23 incorporating a revised settlement announced this month. In addition to Tribune, proponents of the revised plan include the official creditors’ committee, senior lenders Oaktree Capital Management LP and Angelo Gordon & Co., and JPMorgan Chase Bank NA, as agent for the senior lenders.
Galleon Group LLC co-founder Raj Rajaratnam had a ready answer for every question U.S. regulators put to him about possible insider trading three years ago, Bloomberg News’s David Glovin and Andrew M. Harris report.
Former Credit Suisse Group AG broker Eric Butler had his securities-fraud conviction overturned by a federal appeals court, which ruled that Brooklyn, New York, was the wrong venue for the trial on the charge.