By Sakthi Prasad
Dec 27 (Reuters) - U.S. hedge fund manager Raj Rajaratnam
has agreed to pay disgorgement of about $1.5 million in a civil
lawsuit filed by the Securities and Exchange Commission, and to
waive his right to appeal the judgment, court papers showed.
Rajaratnam would make the payment, representing the profits
obtained by unlawful means, to the SEC within 90 days after the
entry of the final judgment in court records, according to a
filing.
Rajaratnam, currently serving a 11-year prison term, was
convicted of securities fraud and conspiracy in May 2011. He was
accused of running a network of friends and associates who
leaked corporate secrets to him for years.
Former Goldman Sachs Group Inc director Rajat Gupta, a
former chief of consulting firm McKinsey & Co, has also been
charged with leaking tips to Rajaratnam. Gupta denies the
charges.
Rajaratnam, the founder of Galleon Group, has already paid
$63.8 million in criminal penalties, and a judge had earlier
ordered him to pay $92.8 million in a civil case brought by the
SEC.
The case is SEC vs Rajaratnam et al, U.S. District Court for
the Southern District of New York, No. 11-07566.
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