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Bail Hearing For Hedge Fund Founder Raj Rajaratnam
The three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan did not indicate at Wednesday's hearing which way it was leaning in the question over Raj Rajaratnam's freedom.
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The three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan did not indicate at Wednesday's hearing which way it was leaning in the question over Raj Rajaratnam's freedom.
The Galleon Group founder also was fined $10 million. U.S. District Judge Richard J. Holwell announced the sentence after concluding that Rajaratnam made well over $50 million in profits from his illegal trades.
If federal prosecutors have their way, Rajaratnam will get between 19 1/2 and 24 1/2 years in prison for what they say were more than $72 million in profits for himself and his Galleon Group of hedge funds.
Judge Richard Holwell said he wanted to send a warning to Wall Street; but he still gave Chiesi less than the 3 to 4 years that prosecutors had sought.
Hedge fund manager Danielle Chiesi will be sentenced next week after pleading guilty in what prosecutors have said was the biggest hedge fund insider trading probe in history.
The jury that returned a guilty verdict to all charges against a one-time billionaire hedge fund founder proved to have a voracious appetite for the audiotapes of him talking to fellow traders and friends at public companies about stocks he wanted to trade.
A former Wall Street titan was convicted Wednesday of making a fortune by coaxing a crew of corporate tipsters to give him an illegal edge on blockbuster trades in technology and other stocks.
The judge let jurors leave early on Friday. It was their fifth day of weighing the fate of the hedge fund manager.
One-time billionaire Raj Rajaratnam listened quietly as prosecutors have labeled him a Wall Street cheater. His own lawyers insist he acted honorably. A jury will be left to decide who's right.
A Wall Street hedge fund manager bragged in a 2008 conference call about making a massive illegal trade only moments before the market closed, according to prosecutors.
Adam Smith said Tuesday that Raj Rajaratnam's Galleon firm used the information to "get an edge" on massive trades.
Rajaratnam was accused at the federal trial of teaming up with workers in the hedge fund industry and employees of public companies to share inside information.
Prosecutors said Rajiv Goel and the defendant, Raj Rajaratnam, were caught on a wiretap discussing a closed-door meeting in 2008 of the Intel board of directors.
The trial was set to resume Monday in Manhattan federal court for Galleon Group founder Raj Rajaratnam. He's the only one of more than two dozen people charged in the insider trading crackdown to face trial. Nineteen have pleaded guilty.
Rajaratnam was represented in court by seven lawyers as a pool of about 100 potential jurors was questioned by Holwell to make sure they had no personal history or biases that would interfere with their ability to judge the case fairly.
Raj Rajaratnam of New York City was to be introduced Tuesday to some of the prospective jurors in the pool available to hear the case.
A co-defendant of hedge fund operator Raj Rajaratnam pleaded guilty Wednesday to federal charges in a case that has led to an ever-widening probe of insider trading within the securities industry.
President Biden announced Sunday he is dropping his reelection bid in the 2024 presidential race and endorsing Vice President Kamala Harris.
Israeli leader Benjamin Netanyahu heads for Washington under pressure over the Gaza war and amid huge U.S. political uncertainty.
New York's weather calls for a cloudy day Monday, with rising humidity and increasing shower chances.
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New York's weather calls for a cloudy day Monday, with rising humidity and increasing shower chances.
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Humidity levels will climb and temperatures will reach the mid to upper 80s in the Tri-State Area on Sunday.
Nearly $10 million worth of narcotics were seized in the Bronx in what police said was their most significant drug bust to date involving illegal marijuana products.
NYCHA residents rallied across all five boroughs Saturday, calling for improved living conditions.
New York's weather calls for a cloudy day Monday, with rising humidity and increasing shower chances.
Humidity levels will climb and temperatures will reach the mid to upper 80s in the Tri-State Area on Sunday.
At least seven people in New York have been sickened in a listeria outbreak linked to deli meats.
After several days of searing, summer heat, we've finally got some good news for the Tri-State Area, weather-wise.
New York and New Jersey coped with another day of excessive heat and humidity Wednesday, as well as severe weather.
New York's weather calls for a cloudy day Monday, with rising humidity and increasing shower chances.
New Jersey lawmakers on both sides of the aisle react to Joe Biden's decision to quit the presidential race.
Humidity levels will climb and temperatures will reach the mid to upper 80s in the Tri-State Area on Sunday.
At least seven people in New York have been sickened in a listeria outbreak linked to deli meats.
NJ Transit says regular weekend schedules will be in effect beginning Saturday, and regular weekday service will resume Monday.
Here's what New York leaders are saying about President Joe Biden's decision to end his reelection bid.
Humidity levels will climb and temperatures will reach the mid to upper 80s in the Tri-State Area on Sunday.
Former U.S. Rep. George Santos has lost a bid to dismiss some of the charges in the criminal case against him as he heads toward trial.
According to prosecutors, the alleged drunk driver who crashed into a Long Island nail salon in June, killing four people, had a blood alcohol level that was more than twice the legal limit.
New York's next offshore wind farm, Sunrise Wind, will be seven times bigger than its first one.
President Biden announced Sunday he is dropping his reelection bid in the 2024 presidential race and endorsing Vice President Kamala Harris.
New Jersey lawmakers on both sides of the aisle react to Joe Biden's decision to quit the presidential race.
Key progressive and member of "The Squad" Minnesota Rep. Ilhan Omar endorsed Kamala Harris for president on Sunday after President Biden announced he was dropping out of the 2024 presidential race.
After President Biden announced Sunday he would not continue to seek reelection, leaders from across the globe shared their responses to his decision.
Here's what New York leaders are saying about President Joe Biden's decision to end his reelection bid.
At least seven people in New York have been sickened in a listeria outbreak linked to deli meats.
Physical effects of heat waves, like heat stroke, are widely known. But scientists are now sounding the alarm on psychological consequences of extremely high temperatures.
At least two cases of measles have been found in people staying at a New York City-run shelter for migrants in Brooklyn.
Nationwide, the CDC says the COVID virus level in wastewater is now "high" for the first time since last winter.
A first responder on Long Island is said to be the first in the country, outside a clinical trial, to undergo a life-saving surgery for peripheral artery disease.
An album of dark songs recorded in a bedroom at his rented farmhouse in 1982, reflecting the upheaval in his life in-between "The River" and "Born in the U.S.A.," helped solidify Springsteen's status as one of music's most soulful voices.
A new sculpture featuring the likeness of one of hip-hop's first DJs plays a specially curated mix, powered by solar panels.
Prosecutors have been preparing to retry the disgraced movie mogul since the New York Court of Appeals overturned his 2020 rape conviction.
The Kennedy Center named its 2024 Honorees Thursday morning. They include Harlem's historic Apollo Theater, the first institution to ever receive the honor.
Bob Newhart, who starred in the long-running sitcoms "The Bob Newhart Show" and "Newhart," has died at age 94.
The Mets struck out 14 times in Sunday's 4-2 loss to the Marlins.
The Rays built an early lead, overcame Aaron Judge's MLB-leading 35th homer, and beat the Yankees 6-4 on Sunday.
Rookie Hannes Wolf scored five minutes after Ramiro Enrique had given Orlando City the lead in the second half and New York City earned a 1-1 draw.
Lewis Morgan scored twice, Kyle Duncan added a goal and the New York Red Bulls defeated FC Cincinnati 3-1 to remain the only unbeaten team at home in the MLS season.
Luis Severino and three relievers combined on a four-hitter as the New York Mets beat the Miami Marlins 1-0.
The situation for a NYCHA tenant has gone from bad to worse after ankle-deep water inundated her Brooklyn apartment during a storm.
A new sculpture featuring the likeness of one of hip-hop's first DJs plays a specially curated mix, powered by solar panels.
A legal battle is brewing between some New York City tenants and Mayor Eric Adams over rental assistance laws.
The Kennedy Center named its 2024 Honorees Thursday morning. They include Harlem's historic Apollo Theater, the first institution to ever receive the honor.
It's a tradition that dates back to 1887. Worshippers in Brooklyn paraded through the streets, a beloved Italian tradition.
Tens of thousands of people flooded Manhattan streets on June 2, 2024 for the 60th annual Israel Day on Fifth Parade.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
Dr. Nidhi Kumar is On Call for CBS New York to discuss the risks people face when taking health advice from videos they see on TikTok and other social media sites.
President Joe Biden says he will not seek reelection, putting his support behind Vice President Kamala Harris. CBS New York has team coverage on what happens next.
CBS New York's Tony Sadiku and John Elliott have the latest weather forecast.
CBS New York's Vanessa Murdock is calling for temperatures in the 80s every day this week.
So what does that mean for next month's convention in Chicago? CBS New York's Derick Waller reports Democrats are trying to make sure history doesn't repeat itself.