Convicted insider trader hit with record SEC fine
(NEWSER) - Galleon Group hedge fund founder Raj Rajaratnam has broken another record. The former billionaire, who received the longest-ever prison sentence for insider trading last month, has been ordered to pay the largest-ever Securities and Exchange Commission civil penalty for insider trading, reports the New York Times . The $92.8 million penalty, combined with the fines and forfeitures ordered last month, means Rajaratnam will have to pay a total of $156.6 million. More»