New York - Attorney Preet Bharara has set itself the goal of bringing criminals in pinstripes for the route. And so the largest case of insider trading on Wall Street ends well for the main defendant in jail. A New York court has found the hedge fund billionaire and founder Raj Rajaratnam guilty on all points.
This is the current situation in which there is the newly elected president of the SGAE, Eduardo Teddy Bautista, after being arrested on Friday along with other directors of the management entity copyright. After testifying before the National Court, Bautista was released but the alleged offenses that may have committed are severely punished and could be sent to jail if so decided by the judge.
Rajaratnam had the opinion of the jury in the financial metropolis and also brought up an extensive network of informants, and his contacts submitted to the management of large U.S. corporations. The parties always knew the crucial moment earlier than the rest of the market on quarterly reports and the interesting merger plans of heavyweights such as IBM, Google and Intel know. This was good money to be made: After calculating the New York Attorney General has swindled Rajaratnam 63.8 million dollars.
In addition, they could condemn another four years in prison if demonstrated its involvement in the "crime of fraudulent administration of Article 295 of the Penal Code." Bautista could be guilty of a "corporate crime alleged in the art. 293 CP (refusal or inability to exercise partners the information and participation rights)," which would be punished with fine up to 12 months.
Investigators were suspicious and tapped Rajaratnams phone. In court, these recordings played a key role. On the tapes was heard, like Rajaratnam speaks to his people contact and procured strictly confidential company internals, such as the latest financial figures or takeover plans. End of 2009, investigators were Rajaratnam go up then, since March, he was on trial. "The message today is clear: There are rules and laws, and applicable to everyone," prosecutor Bharara triumphed on Wednesday in downtown Manhattan, just steps from the famous financial district. Insider trading harmed the honest investor, said Bharara and threatened: "We will pursue and punish those who think they are above the law and too smart to be to be caught."
This is the current situation in which there is the newly elected president of the SGAE, Eduardo Teddy Bautista, after being arrested on Friday along with other directors of the management entity copyright. After testifying before the National Court, Bautista was released but the alleged offenses that may have committed are severely punished and could be sent to jail if so decided by the judge.
Rajaratnam had the opinion of the jury in the financial metropolis and also brought up an extensive network of informants, and his contacts submitted to the management of large U.S. corporations. The parties always knew the crucial moment earlier than the rest of the market on quarterly reports and the interesting merger plans of heavyweights such as IBM, Google and Intel know. This was good money to be made: After calculating the New York Attorney General has swindled Rajaratnam 63.8 million dollars.
In addition, they could condemn another four years in prison if demonstrated its involvement in the "crime of fraudulent administration of Article 295 of the Penal Code." Bautista could be guilty of a "corporate crime alleged in the art. 293 CP (refusal or inability to exercise partners the information and participation rights)," which would be punished with fine up to 12 months.
Investigators were suspicious and tapped Rajaratnams phone. In court, these recordings played a key role. On the tapes was heard, like Rajaratnam speaks to his people contact and procured strictly confidential company internals, such as the latest financial figures or takeover plans. End of 2009, investigators were Rajaratnam go up then, since March, he was on trial. "The message today is clear: There are rules and laws, and applicable to everyone," prosecutor Bharara triumphed on Wednesday in downtown Manhattan, just steps from the famous financial district. Insider trading harmed the honest investor, said Bharara and threatened: "We will pursue and punish those who think they are above the law and too smart to be to be caught."
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