Raj Rajaratnam

Quick Facts

Full Name	Raj Rajaratnam
Occupation	Financier
Date Of Birth	Jun 15, 1957(1957-06-15)
Age	67
Birthplace	Colombo
Country	Sri Lanka
Birth City	Western
Horoscope	Gemini

Raj Rajaratnam Biography

Raj Rajaratnam is one of the most popular and richest Financier who was born on June 15, 1957 in Colombo, Western, Sri Lanka. Raj Rajaratnam (Tamil pronunciation: raaj raajrtinnm ; born Rajakumaran Rajaratnam on June 15, 1957) was a former hedge fund manager from Sri Lanka and the founder of Galleon Group, a New York-based management company for hedge funds. The FBI arrested him on October 16, 2009 for insider trading. This also led to the collapse of the Galleon group. He stood trial in U.S. v Rajaratnam (09 Cr. 01184) at the United States District Court for the Southern District of New York. He was found guilty of all 14 charges of conspiracy and securities fraud on May 11, 2011. Rajaratnam was sentenced on October 13th 2011 to 11 years imprisonment and fined more than $150 million in both a civil and criminal penalty.

Prosecutors claimed Rajaratnam earned up to $63.8million through insider trading of stocks like eBay, Goldman Sachs and Google between 2003 and 2009. Rajaratnam was convicted on May 11, 2011 of nine counts of securities fraud, and five of conspiracy. Rajaratnam has been in prison for 8 years and will be eligible to be released in July 2021.

Rajaratnam also conspired to get confidential information on the $5 billion purchase by Warren Buffett’s Berkshire Hathaway of Goldman preferred stock prior to the September 2008 public announcement of that transaction. The Wall Street Journal reported that a former member of the board of directors of Goldman Sachs and former McKinsey & Company chief executive Rajat Gupta told Rajaratnam about Berkshire’s investment before it became public. Gupta stood to profit as would-be chairman of Galleon International, a co-founder of New Silk Route with Rajaratnam, and as a friend of Rajaratnam. In March 2011 Gupta was charged in an administrative proceeding by the SEC. Gupta maintained his innocence, counter-sued, and won dismissal of the administrative charge, but was then arrested on criminal charges.

The Sri Lankan stock market fell sharply after Rajaratnam was arrested on insider trading charges in October 2009. Sri Lanka’s Securities and Exchange Commission is reviewing the active stock trading of Raj Rajaratnam with a view of identifying any insider trading.

Rajaratnam began his career at Chase Manhattan Bank as a loan officer. He specialized in technology company loans. In 1985, he joined Needham & Co.’s investment banking firm as an analyst. He specialized in the consumer electronics sector. At 34, he quickly rose up the ranks to become the head of research and president. He started the Needham Emerging Growth Partnership, a hedge fund, in March 1992. This was later purchased by Galleon Group.

Raj Rajaratnam Net Worth

Raj Rajaratnam is one of the richest Financier from Sri Lanka. According to our analysis, Wikipedia, Forbes & Business Insider, Raj Rajaratnam 's net worth $5 Million. (Last Update: December 11, 2023)

Rajaratnam, an ethnic Sri Lankan Tamil, was born in Colombo (present-day Sri Lanka) in the Dominion of Ceylon. His father J. M. Rajaratnam was the founder of Singer Sewing Machine Co., South Asia. Before his family immigrated to England, he attended the S. Thomas’ Preparatory school in Kollupitiya. Rajaratnam’s family immigrated to England in 1971 after being concerned about the increasing violence against Tamils following independence. He was educated at Dulwich College, London. He then studied engineering at University of Sussex. In 1983, he received an M.B.A. degree from Wharton School of Pennsylvania.

According to reports, Rajaratnam Goel and Kumar were all part the 1983 class at Wharton’s business school.

Rajaratnam contributed $3.5 million to the Tamils Rehabilitation Organisation (TRO), a group whose assets were frozen by the USA due to its close connections to the Tamil Tigers (LTTE) which are proscribed as a terrorist organization in 32 countries. TRO’s offices were raided by the FBI in 2006 but the organization was never charged with any wrongdoing.

Height, Weight & Body Measurements

Raj Rajaratnam height Not available right now. Raj weight Not Known & body measurements will update soon.

Who is Raj Rajaratnam Dating?

According to our records, Raj Rajaratnam married to Asha Pabla. As of December 1, 2023, Raj Rajaratnam’s is not dating anyone.

Relationships Record : We have no records of past relationships for Raj Rajaratnam. You may help us to build the dating records for Raj Rajaratnam!

On May 11, 2011, Rajaratnam was found guilty on all 14 counts of conspiracy and securities fraud. On October 13, 2011, Rajaratnam was sentenced to 11 years in prison by Judge Richard Holwell. To date, this was the longest prison sentence ever handed out for insider trading. The thirteen other defendants connected to Rajaratnam’s case received prison sentences averaging approximately three years each.

Facts & Trivia

Raj Ranked on the list of most popular Financier. Also ranked in the elit list of famous people born in Sri Lanka. Raj Rajaratnam celebrates birthday on June 15 of every year.

U.S. District Judge Loretta Preska in Manhattan on March 3, 2017, rejected Rajaratnam’s bid to void much of his insider trading conviction and shorten his 11-year prison sentence, on account of Rajaratnam failing to show his actual innocence on five of the 14 counts on which he was convicted, or that two other counts should be vacated because the main government witness committed perjury. Preska also rejected Rajaratnam’s argument that his trial counsel was ineffective, and denied Rajaratnam’s bid to reduce the $53.8 million he agreed to forfeit to about $4.3 million.

Top Facts about Raj Rajaratnam

1. Rajakumaran Rajaratnam is a Sri Lankan-American former hedge fund manager and founder of the Galleon Group.
2. He was arrested by the FBI for insider trading in 2009 and convicted in 2011, with an 11-year prison sentence and a combined civil and criminal penalty of over $150 million.
3. He was released from prison in 2019, having served 7.5 of his 11-year sentence.
4. He was born in Colombo, Sri Lanka to wealthy parents, and attended S. Thomas’ Preparatory School, Kollupitiya.
5. He studied engineering at the University of Sussex before earning an MBA from the Wharton School of the University of Pennsylvania in 1983.
6. He started his career as a lending officer at Chase Manhattan Bank before becoming the head of research at Needham & Co., and eventually started his own hedge fund, the Galleon Group, in 1992.
7. Rajaratnam and other private donors partnered with the US State Department to fund mine detection dogs for humanitarian demining in Sri Lanka.
8. He also contributed $5 million to help Sri Lankans recover from the 2004 tsunami, as well as $3.5 million to the Tamils Rehabilitation Organisation.
9. Rajaratnam was a contributor to various causes to benefit low income South Asian youth in the New York area, and served on the board of the Harlem Children’s Zone.
10. According to the Federal Election Commission, Rajaratnam made $118,000 in political contributions in five years, mainly to the Democratic National Committee and various campaigns on behalf of Barack Obama, Hillary Clinton, Chuck Schumer, and Bob Menendez.
11. He was accused of profiting from information received from various individuals, and of conspired to get confidential information on Warren Buffett’s Berkshire Hathaway’s $5 billion purchase prior to its public announcement.
12. Rajaratnam’s appeal to the United States Court of Appeals for the Second Circuit was argued in October 2012.
13. The Sri Lankan stock market fell sharply after Rajaratnam’s arrest on insider trading charges in October 2009.
14. Rajaratnam published his memoir Uneven Justice: The Plot to Sink Galleon in 2021.
15. U.S. District Judge Loretta Preska rejected Rajaratnam’s bid to void his conviction and shorten his sentence in 2017.

What is Raj Rajaratnam doing now?

Raj Rajaratnam, convicted of insider trading charges and now free after more than 7 years in federal prison, has authored a new book, Uneven Justice , about his experience of being prosecuted in the Southern District of New York. Fellow Forbes contributor John Tamny wrote a great piece on the book and Rajaratnam’s case.

What did Raj Rajaratnam do?

Raj Rajaratnam, (born June 15, 1957, Colombo, Ceylon [now Sri Lanka]), American investor who was convicted in 2011 of securities fraud and conspiracy in one of the largest prosecutions of insider trading (trading on information not available to the public) in U.S. history and the first such case to rely on evidence …

How much money does Raj Rajaratnam have?

It grants nonviolent criminal offenders, particularly those convicted for drug charges, early release from prison if they are over 60 or if they have a terminal illness. Rajaratnam, whose net worth Forbes estimated at $1.3 billion in 2009 when he was among the 400 richest Americans, was released July 23.

Is Rajaratnam still in jail?

Rajaratnam, 64, was released from federal prison in 2019 , after serving almost eight years of an 11-year sentence.

Who is David Slaine?

Former Galleon Group executive and convicted insider trader David Slaine, who famously led authorities to Raj Rajaratnam, just sold his Upper East Side duplex. Slaine and his ex-wife Elyse sold their 3,900-square-foot co-op at 925 Park Avenue for $8.9 million, according to city records.