Judge orders Rajaratnam to pay $92.8 million

The sum is the largest-ever civil penalty against an individual in an SEC insider trading case

It appears Mr. Rajaratnam isn’t yet done receiving the bad news. U.S. District Judge Jed Rakoff yesterday ordered the vilified inside trader to pay a record $92,805,705 penalty in a related U.S. Securities and Exchange Commission (SEC) civil case. (Cue the canned cash register audio clips.)

Judge Rakoff said that SEC civil penalties are designed to make insider trading a “money-losing proposition not just for this defendant, but for all who would consider it.”

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