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Rajaratnam Sentencing Pushed Back
September 22, 2011
With all the Hullabaloo about Raj Rajaratnam's precedent-setting sentencing for his insider trading conviction, it's rather disappointing that Federal Judge Richard Holwell has pushed back the hearing into October - specifically, to 10/13. Mr. Rajaratnam, co-founder of the Galleon Group, was convicted by a jury of his peers in May. No reason was given for the delay.
The sentencing delay comes on the same day that Federal Judge Richard Sullivan sentenced former Galleon trader Zvi Goffer to 10 years in prison for his role in a separate insider trading scheme. Goffer, who was convicted in June on 14 counts, was very contrite during the sentencing hearing - expressing his sincere remorse for the crimes he committed. [CNBC.com, 9/21/11]

