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.
A limited number of affordable tickets to the FIFA World Cup will be available for New Yorkers through a lottery.
It's a gloomy day with rain lingering across the Tri-State Area as Memorial Day weekend shapes up to be unsettled.
"The Late Show" host Stephen Colbert is marking the end of an iconic late-night franchise on CBS.
For nearly 100 years, some of the biggest entertainers were introduced to the world at the famed Ed Sullivan Theater.
Advocates estimate one-third of the 200-acre park in Flushing is still without functioning drinking fountains and bathrooms.
A limited number of affordable tickets to the FIFA World Cup will be available for New Yorkers through a lottery.
It's a gloomy day with rain lingering across the Tri-State Area as Memorial Day weekend shapes up to be unsettled.
For nearly 100 years, some of the biggest entertainers were introduced to the world at the famed Ed Sullivan Theater.
Advocates estimate one-third of the 200-acre park in Flushing is still without functioning drinking fountains and bathrooms.
A woman, her mother and her daughter have all been charged in connection a child's death on Long Island.
It's a gloomy day with rain lingering across the Tri-State Area as Memorial Day weekend shapes up to be unsettled.
Severe storms caused damage and flooding across New York and New Jersey on Wednesday.
New York City and New Jersey are under a heat advisory and air quality alert as the hazy and humid weather settles in across the Tri-State Area.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
Keep an umbrella nearby as there's a chance for showers across the New York and New Jersey area. But the weather will turn to sunshine and warm temperatures for the weekend.
A limited number of affordable tickets to the FIFA World Cup will be available for New Yorkers through a lottery.
It's a gloomy day with rain lingering across the Tri-State Area as Memorial Day weekend shapes up to be unsettled.
New Jersey Gov. Mikie Sherrill declared a state of emergency because freezing temperatures this spring damaged crops at local farms.
NJ Transit rail service into and out of Penn Station New York resumed Wednesday night after a brush fire caused a suspension.
A Jersey Shore community had to implement a curfew and use its public alert system to tell residents to take shelter after authorities say several hundred teenagers and young adults came to the beachfront for a pop-up gathering.
It's a gloomy day with rain lingering across the Tri-State Area as Memorial Day weekend shapes up to be unsettled.
A woman, her mother and her daughter have all been charged in connection a child's death on Long Island.
Police on Long Island are now using a roadside saliva test that can detect marijuana use and other drugs in minutes.
The MTA is moving forward with refunds for thousands of LIRR commuters who were left dealing with three days of service disruptions as workers went on strike.
Severe storms caused damage and flooding across New York and New Jersey on Wednesday.
Last month, Mayor Zohran Mamdani vetoed the controversial "buffer zone" bill for protests outside of New York City schools. City Council Speaker Julie Menin is now trying to make changes to keep the mayor from vetoing it again.
Former Cuban leader Raúl Castro was indicted by a U.S. grand jury in connection with the Cuban military's fatal downing of two planes in 1996 — an escalation in the U.S. pressure campaign against the Cuban government.
New York City Mayor Zohran Mamdani, Police Commissioner Jessica Tisch and Gov. Kathy Hochul were all on hand Wednesday morning to officially launch a split of the Bronx into two separate police boroughs, called Bronx North and Bronx South.
A New York City watchdog group is urging the Manhattan District Attorney to open an investigation into federal charges that were dropped against former Mayor Eric Adams.
Barney Frank, a Democrat who represented Massachusetts in Congress for 32 years, has died. He was 86 years old.
Thousands of people showed up bright and early for AIDS Walk New York 2026, the largest HIV and AIDS fundraiser in the U.S., in Central Park on Sunday.
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
New York Gov. Kathy Hochul proposed millions to keep the program open, but the reforms would cut reimbursement rates for private duty nurses.
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
American passengers on the MV Hondius cruise ship, which was hit with a deadly outbreak of the hantavirus, are back in the U.S. Three of the at least 10 people confirmed infected in the outbreak have died.
"The Late Show" host Stephen Colbert is marking the end of an iconic late-night franchise on CBS.
For nearly 100 years, some of the biggest entertainers were introduced to the world at the famed Ed Sullivan Theater.
Friday at 11 p.m. will be the final sign-off for CBS News Radio, home of the "World News Roundup" and several generations of the best in the business.
The well-known film critic and journalist Rex Reed has died at 87.
"The Pitt" star Isa Briones is bringing heightened pride and Filipino presence to both stage and screen.
A limited number of affordable tickets to the FIFA World Cup will be available for New Yorkers through a lottery.
The Nationals returned to .500 for the second time since the season's first week Wednesday night with an 8-4 victory over the Mets.
New York beat the Cleveland Cavaliers 115-104 in overtime on Tuesday night in Game 1 of the Eastern Conference finals.
The New York Yankees held off the Toronto Blue Jays 5-4 on a 90-degree night Tuesday in the Bronx.
The Washington Nationals rallied from an early five-run deficit Tuesday night to defeat the New York Mets 9-6.
Advocates estimate one-third of the 200-acre park in Flushing is still without functioning drinking fountains and bathrooms.
Ahead of the 2026 RBC Brooklyn Half Marathon, some athletes are showing how simply reaching the starting line is a victory.
The Second Avenue Subway project has entered phase two of extending the "Q" line, but Harlem businesses say they're struggling to co-exist with the construction.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
For more than four decades, residents living beside Brooklyn's District 13 Sanitation Garage in Coney Island have been waiting for the facility to move away from their homes.
People dressed in elaborate headgear and paraded up Fifth Avenue for New York City's Easter Sunday tradition.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
The annual Easter Parade and Easter Bonnet Festival was held in Manhattan on April 20, 2025.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Millions of people will travel at least 50 miles from home for the holiday weekend.
Police said a bullet tore through the back of an ambulance and shattered the front windshield while two EMS workers were inside.
Host Stephen Colbert will say goodbye to fans Thursday night during the final episode of "The Late Show" at the famous Ed Sullivan Theater.
Port Authority officials say they hope to have the runway open by midday Thursday after it shut down Wednesday. CBS News New York's Elijah Westbrook reports.
Thousands of residents in the Tri-State Area lost power after a series of strong storms swept through Wednesday night. CBS News New York's Christina Fan reports.
