The New York Post reports that the disgraced investor has asked a judge to order the government to return $50m of the $63.8m he forked over in penalties following his 2011 conviction on 14 counts of securities fraud.
Rajaratnam, currently serving an 11-year prison stretch — the longest sentence handed down to any of the 80 others caught in Manhattan US Attorney Preet Bharara’s years long insider trading probe — also wants his convictions tossed, according to court papers filed late Tuesday.
The plea by Rajaratnam, the founder of now-defunct hedge fund Galleon Group, mimics those of a handful of Wall Street players caught in Bharara’s dragnet — all of whom are arguing that a new, narrower definition of insider trading should nix their convictions.
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