Wednesday, May 11, 2011

Hedge Fund Founder Convicted in Inside-Trade Case

NYC jury convicts hedge fund founder of conspiracy, fraud in massive insider trading case.
"Prosecutors said (Raj) Rajaratnam faces a maximum term of more than 19 years in prison.

U.S. Attorney Preet Bharara said the verdict sends a message that white collar laws apply to everyone, "no matter how much money you have."
Or, apparently, who benefits from your political donations.

According to Open Secrets, Mr. Rajaratnam liked to donate to democrat politicians. A lot. 




Search Criteria:
Donor name: Rajaratnam, Raj
Cycle(s) selected: All

Out of the $87,100 total that Rajaratnam donated to politicians or political committees, $83,100 went to democrats.

The Democratic Senatorial Campaign Committee and something called the DNC Services Corp. were by far the largest benefactors, banking in a total of $52,900 between them during 2006-08.


The most favored individual politician of  Mr. Rajaratnam's largess?  Hillary Clinton, depositing $11,100 during her time as the democrat Senator from NY.  Let's hope Mrs. Clinton will return this ill gotten gain as she did with the nearly $800,000 she received from Democratic fundraiser Norman Hsu. He was arrested & convicted of violating campaign finance laws back in 2009.

Plus, arch swindler and convicted con man (now deceased) Bernie Madoff also liked to donate big to democrat politicians. Sen. Charles Schumer(D-NY) was blessed with over $29,000 from Madoff. Further down on Madoff's list was Sen. Hillary Clinton (D-NY) who received $9,000 for her Senate and failed presidential campaigns. Some of that tainted money was donated to charities.

Finally, since Pres. Obama is such a stand up guy when it comes to transparency, especially with campaign contributions, any bets if Obama will return the $4600 in campaign contributions he received from Mr. Rajaratnam?
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