Rajaratnam may appeal SEC fines

The insider trading penalty was a record $92.8 million

Galleon Group founder and notorious inside trader Raj Rajaratnam may be appealing the record $92.8 million fine that the Securities and Exchange Commission (SEC) slapped him with in a civil case last month. This, of course, was in addition to the $63.8 million in forfeitures and fines from his criminal case, not to mention the 11-year prison sentence.

Rajaratnam filed a notice of appeal in the SEC case on Wednesday, which leaves the door open for him should he decide to appeal the judgment, the Wall Street Journal reports.

Join the Conversation

Advertisement. Closing in 15 seconds.