Raj Rajaratnam Arrested

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The Largest Bail Set in History

Written on Oct. 18, 2009

After an alleged $20 million insider-trading scheme, Raj Rajaratnam (founder of Galleon Group) was released on the highest bail ever set in the U.S. at a whopping $1 million.

Friends and relatives of the accused offered to assist in the cash backing of the bail after the $20 million in cash and property was secured, Judge Douglas Eaton the U.S. Magistrate approved the bail. Not only was Raj ordered to surrender his passport to the court but was also limited to a 110 mile traveling radius after being released on bail.

Mr. Rajaratnam could face 20 years in 20 years in prison and a fine of up to $5 million, or twice the gross gain or loss of an illegal trade; he has been charged with four counts of conspiracy and seven counts of securities fraud along with civil charges filed by the SEC...Read the Rest of This Article.

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