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Raj Guilty, Faces 15.5-19.5 Years In Jail
Justice, this time, is served. Raj found guilty on all charges. Next up: up to 20 years in federal pound me in the ass penitentiary (20 years on each of 9 counts, and 5 years on the remaining 5 so a total of 205 years possible). But that's ok, Raj Raj certainly frontran that verdict and is most likely prepared as necessary.
Here is the official guideline: U.S. SAYS RAJARATNAM FACES 15 1/2 YEAR TO 19 1/2 YEAR-TERM.
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he was guilty back when he worked for Needham in the 90's
Obama got Osama and Rajarama!
cnbc arguing this will instill average investor confidence because wrongdoing is punished - funny stuff SNL
The same with Bloomturd they are proclaiming the end of corruption. It would be funny but the joke is on the American people.
He'll do fine in prison. Imagine how many cigarettes he can get by offering fractional ownership of his back tits.
why do people even tune to CNBC?
All of TV is like that. They all love Mugabe/Hugo Chavez.
oh mama!
Let's make a scapegoat of the fat Indian guy so everyone will forget about really BIG criminals on Wall Street and inside the Beltway.
++1 exactly, our govt. actions say: "lets get the Brown people first!" -- pathetic, but if he is guilty, adios muchacho
well he has body reserves that should help. Maybe he'll get 16 years and come out after 8 for loyal service to fellow inmates. Having paid his due to the prison guard and legal eagles in gold, obviously. Nobody should be left out within the state legal system, judges, police officials and inmates all grouped as one big family who love Sri Lankan meat ball curry.
"Welcome to the Inside, Raj. Hey -- the Welcoming Committee on C-Block strongly recommends a six-month supply of soap-on-a-rope for all you bashful newbies, and to make new friends, maybe a few cartons of Marlboro Reds. No cash or Quotrons in this place, dude. Just a rec room and a lot of friendly faces. Welcome to our world."
http://prisonphotography.files.wordpress.com/2009/09/4convicts.jpg?w=475...
It's funny you think he will go into a max security slammer where the peasants are kept..
http://www.forbes.com/2006/04/17/best-prisons-federal_cx_lr_06slate_0418...
White collar executive prison, pay a little extra and get the private flat screen and cable in your room. "Hard time" = 3 star chef instead of 5.
LOL! Raj may end up getting a Bloomberg terminal and a PC for entering his orders in white collar prison.
dark and heavy, just like our obligations
They're ALL guilty, 20 years is too much anyway. We bail out the big theives and do this to the smallfry who are just following their lead, it's disgusting.
When fraud and theft is the normal course of business what else would explain Raj being selected for prosecution . Some of the crooks have blackmail files on the POTUS ,Congress and Senate.
They have hidden camera video tapes of senators with child prostitutes from the eighties when these pediphiles flew young boys and girls to town for their abuse. Those tapes keep these senators in line.
http://www.voxfux.com/features/bush_child_sex_coverup/article_archive.ht...
Yeah, really, let's see some well-connected white guys doing a perp walk and I'll be swayed.
The guy clearly did not need the money as he had already over 2 billion. So I would be happy if he does more than 5 and less than 10 in total for his cowboy attitudes towards the law.
gets 15 years, reduced to 10 just cuz... another 3 for good behavior, insider blowjobs to "friends of the court" reduces to 5... serves 3 years 2 years probation. End arounds any bans, back on WalStreet eventually replacing Pisani as CNBC's "insider" man on the street.
Retires from network television, becomes government contractor for FBI / SEC specializing in fraud detection...
A&E Biography on Raj Raj aires 20??
They granted him 100 million bail, he needs to post 20 million or about 1% of his net worth.
And he's gone. He's gone, he's all gone.
now we know where BO will get a good portion of his billion in reelection funding
holder can pardon him last day of BO admin ala clinton/rich
donation to the obama chicago library
He is gone like Marc Rich, and will buy a Presidential pardon (like Rich) when there is a lame duck President.
+19.5
Good.
Who?
Anyway, check out this article
http://www.nytimes.com/2011/05/11/world/asia/binladen-statement.html?_r=1
Osama's family is calling bullshit on the whole Obama killed Osama hoax.
"I Omar Ossama Binladin and my brothers the lawful children and heirs of the Ossama Binladin (OBL) have noted wide coverage of the news of the death of our father, but we are not convinced on the available evidence in the absence of dead body, photographs, and video evidence that our natural father is dead."
I want my...
baby back
baby back
baby back....
ribs
That is one fat fucker
Definitely lives life in the Fat Lane. Kinda ugly too so that's strike two.
Was there even really a question? Oh wait I forgot, he was of the privileged class. In reality he was just used as a fall guy. Much like in Syriana, where the DOJ wants someone in order to let a deal go through.
Yes, it was one evil (visible minority) crook in a sea of honest, white, hard working pillars of society. All clear in the Wall Street casino now that the dirt has been surgically removed from the system... buy, buy, buy!
Big deal. The real insiders (like the shareholders of the Federal Reserve) are above the law. They fleeced America for trillions but we need to show the 'common man' that you can't get away with gaming the system. Thus, as we all knew, the sacrificial lamb was convicted.
No kidding - every one of these guys got their start on bank prop and product desks which remain the dirtiest and most conflicted players in the game. How about we focus our attention inside the banks and make sure we have a culture of honesty and integrity in place. Of course that would just be too logical even though tax payers have certainly earned the right.
Yep. Find a scapegoat. Make a public example of them (plenty of fanfare). Now.....where were we? Ah yes....business as usual.
it certainly helped he was fat ugly and brown (but not black)
Lets not rule out al-Sharpton from showing up just because he's not black. The other similarities (fat, brown, no morals) may be enough to make a spectacle of this yet.
Who flagged this junk? It's quite amusing.
They are serving Sri Lankan Pig 4 dinner in Cell Block D
Halal cuisine in jail?
Well, by the time he get's out he'll be Mr. Olympia.
Cable TV, Gym, free Halal cuisine....are you sure he's being punished???
I will be impressed when they go after the big fish.
+1
gefilte fish!
this was an easy prosecution easy conviction. Non white foreigner. When will they get the power broker big white guys??????
We're going to need a bigger boat
Call me when lloyd, ben and timmy and the gang are in gitmo......then I will rejoin society.
Are you kidding me? Raj ran one of the largest hedge funds in the world. He was #236 Forbes networth invidiuals ($1.3BB). Very few people were as Wall St connected. This was an impressive verdict considering it was the largest insider trading case in US history. Prosecution using mob collusion methodology will hopefully pave way for further prosecution of other large fish. Corrupt individuals on the street will be furthur intimidated having just seen a top player go down with 100% guilty count.
Wake up. Seriously.
it won't pave the way for anything. If he is so well connected why didn't he plea himself down to 1 count of running a stoplight to roll on the others?
Because either a) he sticks to a very strict code or b) The large fish run the show and know they wont be prosecuted.
New York doesn't eat its own.
Does anyone really believe our markets are going to function better because of this?
Get real.
Goldman Sachs had one losing trading day last Quarter... Is market rigging going to be criminalized too?
Was that the day the Bernank was home with the flu?
Not really. GS will just send the whole trading team that worked that day on "insider training" course to FED. FED will pay for additional training this time. Next mistake will be on account of lazy traders
Of course not. It's still fully legal to manipulate pricing. In fact, regulators (e.g., uptick rule) and exchanges (e.g., co-location) have bent-over backwards to faciliate it. You just can't, apparently, use insider information to do it.
You'd think trading on Wall Street is going to be a lot harder now for the criminal set, as using their phones is going to be a sudden no no.
Someone is getting some chub soon....Rikers? (we can hope)
A (rather chunky) pound of flesh to appease the common folk.
can we opt for a guillotine? maybe put his head on a stick and put it next to the bull in the financial district?
Stick his head on one of the bulls horns and a vacancy sign on the other.
Not enough carpet to sweep this dude under.
Good morning Mr Madoff
Rule No. 1:
If you want to commit a crime, do it when you are old already.
Why ?
1. The amount of time spent in prison will be short before you die of natural causes.
2. No worries about lack of food, drink, shelter.
3. No one wants to fuck an old geezer in the ass.
except an older geezer...If they put him next to Mad of...u never kno!
Mexican GDP was 874.81 billion in 2009 according to Google. Wachovia laundered close to 400 billion for drug lords in a year.
Wake me up when the real evil ends up in prison.
Miami-based American Express Bank International paid fines in both 1994 and 2007 after admitting it had failed to spot and report drug dealers laundering money through its accounts.
Federal agents caught people who work for Mexican cartels depositing illicit funds in Bank of America accounts in Atlanta, Chicago and Brownsville, Texas, from 2002 to 2009.
Wells Fargo has payed 160M in fines and penalties, if they keep their pledge to anti-laundering procedures prosecuters will drop all charges. Bloomberg
This has been going on for decades.
JP Morgan Chase, Citibank and Bank of America each turn a blind eye to their relationships with offshore correspondent banks. These correspondent banks, of which many do not even have a physical address, just a PO box, provide a clean gateway to money laundering activities. The large U.S. banks generate enormous fees from these activities and top management actually encourages these types of banking relationships.
Did the SEC fi-nally quit watching PORN and work for a change?
With a booty like that, this guy will be da belle of da ball
here, have a bone sheep....were on it, you can trust our system, martha, raj , silver, .....
Paper Shredders and depends just went limit up.
Or limp down.
Will this set a standard?
Raj to Madoff: "Can I be on top this time"?
And they aren't discussing bunk beds.
The main street party just started. Who's next?
Who is this guy? I really don't recognize him at all, Tyler you mind filling in some of the details?
Why don't they send Goldman, JPM, BAC, Deutsche Bank, etc there too?
that's like a year per pound.
seeya, fatty. don't drop the soap.
Brings new meaning to the term "fat F**K"....
Madoff said to be delighted to have a new mate!!!
Comparing Madoff's crime to Raj's crime is like comparing first degree murder to a parking ticket. Raj was faithful to one group of constituents: his investors. He made money for them. Madoff screwed everybody: investors, family, everybody.
Investor dollar amounts lost? Raj: $0. Madoff $50b.
Sloppy thinking to attempt to equate these two.
Now he will be getting "insider banging"
Make an example of him for his thieving cohorts. Nothing terrifies the elites more than prison - real prison.
Very true. Even the Fed country clubs are hard on these guys. Example: R. Allen Stanford. Look for more of this as the SEC delegates enforcement of investment advisors with less than $100 mm AUM to the states in unfunded mandates that the states can ill afford.
If the Feds delegate enforcement to the states, then presumably the guilty will end up in state - not Federal - facilities. And funding won't be so much of an issue, since the enforcement will be self-funding (like traffic enforcement!). And Stanford is not in a "Fed country club". He's in a Federal Detention Center (FDC) which is basically a jail. A typical schedule might be sitting in a cell 23 hours/day. It's quite different from a Federal prison, which would be considerably less unpleasant. (I've happened to be in both). I do agree that either one might be a deterrent, although interestingly the prisons are full of people who were not deterred from committing a crime by threat of prison. Maybe something about risk/reward.
On the positive side, Madoff now has a regular lover.
Insider-trading convictions have symbolic power to let the world know that we care, at least sometimes, about punishing those who cheat.
he will get lesser if he discloses all the names...no?
Pull his passport, like now....
Wake me up when -
Blankfein
Dimon
Cohen
The Blackrock boyzz
- and all their subordinates...aka The Obama Re-Election Committee
have their wiretapped conversations released and are charged and convicted.
zzzzZZZZzzzz
Roger that.
the population of connecticut and new york just decreased, cayman islands and bahamas just increased, private jet fuel just skyrocketed
He'll make a for a nice cell bitch.. can be trained to wash clothes in a bucket, iron and make bunks and cook with a stinger. That soft voice should bring in some good ciggerette money for some jailhouse pimp waiting on him on the inside. On the other hand protection wont be cheap for him.
Obama will scream from the roof tops that injustice has been punished...
Next up, let's have a little investigation on high frequency trading firms that post zero trading day losses per quarter.
Oh oh...and magic momentum stocks that move up without any transactions whatever. Been seeing that lately, too.
need to get rid of market makers, they are not needed
Sad thing is that five years ago he might have gotten a slap on the wrist, maybe a little prison time and a fine. Juries, especially juries of angry underemployed people are enacting payback for banksta excess..
Yes, I think he's guilty and deserves a lot of prison time.
If he goes 25 in Federal prison what would be the sentence for Blankfield Goldman or other exec.!!! Bring the big fish on the grill.
Murder was the case that they gave me...
So did he act alone or is he the patsy taking the fall for the guys behind the grassy knoll
@Biff 100% sacrificial lamb. He was expendable in the effort to show Main Street that Wall Street is being cleaned up.
thank you Cursive, haven't been following this at all. I appreciate your insight.
boil him in curry! http://www.hedgefundlive.com/blog/for-the-record-kimelman-never-traded-at-galleon
Big deal, Let's see some of the big boy's go down. Ain't gonna happen...
This just in....Raj has decided to be the catcher for now as the pitcher roster in "D Block" is apparently full. How does one prep for this?
With a large zucchini and lots of lube.
Nah-nah-nah-nah, nah-nah-nah-nah, Raj-Raj, goodbye..
Distraction for sheeple. Prop desks should be outlawed, banks should be banks, period. Prop trading steals real wealth from the economy and adds no value. The ponzi remains strong, until it doesn't. Hedge accordingly.
CNBC has a moron on preaching about how this is good and "insider trading" must be punished.
Uh, hello?
GS
C
BAC
MS
WFC
(insert endless list of Federal Reserve member banksters here)
WTF does this idiot think the IB's and others did during the 2007-2008 crash and burn? What a load of bullcrap. I hope Raj sings like an opera whore and BURIES THE WHOLE G.D. INDUSTRY.
I guess Raj wasn't a CNBC sponsor. Lesson learned. Note to self: Next time spread a little of the loot around.
I had a Mr. Potato Head that looked like that once.
Raj went down because he is brown.
I'll be impressed when they start tossing members of the "tribe" in jail.
ok sheeple - its safe to go back in the water now.
we've stopped commodities going up and equities going down, now pile in with your life savings.....
When do the Federal Reserve 'Bank' Cartel Members get charged and tried for conspiracy to implode the United States and its currency, and when will the guilty verdict followed by execution be?
Are tickets available now?
Drawn and Quartered by this years Derby Superfecta.
LOL BROWN GUY BITES THE DUST.
Oh my, the two Subprime Kingpins!
Scooping a single minnow out of the ocean is insignificant.
Insider trading laws are for little people, or the moderately sized outsider. Ironic isnt it?
Another piker.
I don't believe racist Eric Holder is happy with verdict.
Can they go after Gupta? The McKinsey/GS cheat?
i think gupta was the one who helped nail him in return for no jail time, if memory serves, but i may be wrong
So next on the docket is John Mack?
Oh wait, that was dropped under orders from somebody, and the SEC Investigator, who had just received top grades on his performance evaluation, was fired for questioning the call.
All equal under the law, except for those above the law.
Gary J. Aguirre -Suspecting the leaked information came from John J. Mack, a Wall Street titan and major contributor to the 2004 campaign contribution of George W. Bush, Aguirre wanted to subpoena Mack, but supervisors told him Mack had too much "political clout" and would not be pursued. Aguirre complained to a superior about the preferential treatment being given Mack and was fired without warning. A Senate investigation later found his termination to have been an illegal reprisal.
Dear Raj,
being a coke dealer would have been a lot more fun. lol
That a start, but what the heads of the banks and FED has done pales in comparison. They need to be held accountable
So when are they going to after Cox and Shapiro and Grasso?
How about a picture of Grasso giving a hug with 'Terrorists'?
The movers and shakers of US stock markets are quite aware of the mountains of cash produced by Colombia’s cocaine trade. In June of 1999, Richard Grasso, chair of the New York Stock Exchange, met Raul Reyes, a commander of the Revolutionary Armed Forces of Colombia (FARC), a leftist group which controls about a third of Colombia and about half of its coca-producing area.15
http://erippy.home.mindspring.com/Where_the_NarcoDollars_Go.html
Nice picture. Cold Calling on Clients
Ben and Greenspan?
You wanna see the real crooks in action? Look at AIG bitchez!
How about Gensler at the CFTC, can we get him in for 20 years?
Welcome to.....
JEWYORKCITY.....
There are several hundred JewYorkers that need to serve more than just a little bit of time as well....and be taken down in terms of ill gotten gains....
like bernie madoff?
And even that's nothing compared to the capital of the jewnited kingdom. Let's see some Rothschilds behind bars, ha.
John Mack and his Wife
Dick Fuld?
Gupta ?
Angelo at Countrywide, oh I would like to see that little cunt go down big time.
This guy was enough removed from the real crooks that they allowed him to go down. We need the politicians, bankers and FED/regulators to get it NOW!
He was a great shopper. He will be remembered and loved by his hookers
maybe they'll service him in the pressure cooker.
Raj, no longer in charj.
His balloon knot is about to get destroyed.
why is zerohedge even cheering this verdict? It's an outrageous disgrace.
It's like going out into the doghouse in the backyard and stepping on an ant, while underneath the floorboards of your house and in your foundations are a massive termite (mortgage industry), cockroach (The Fed), and maggot (investment bank) problem.
It's puke-inducing that they even have the time to go after this guy.
"A people as gullible as Americans have no future." -- Paul Craig Roberts
Token sacrifice to appease the masses.
Shouted Blankfein, Dimon, Cohen, the Blackrock Boyz, The Bernank, The Jeetner & NerObama.
Was he making $100M/day selling securities to the fed?
It's easy to use a cell phone in prison. Insiders supply them. Raj will be right at home.
Live by Treachery, Die by Treachery; A Historical Lesson About Selling Your Soul
http://www.activistpost.com/2011/05/live-by-treachery-die-by-treachery.html
Free Raj now!
Raj holds dual citizenship -- U.S. and Sri Lanka. I doubt that he'll serve any jail time because he's a billionaire and been given bail. The 20 million he'll have to post is nothing to him and he'll skip to Sri Lanka as soon as he can transfer his wealth. Although Sri Lanka has an extradiction treaty with the U.S., I doubt they'll let him go given the money he'll spread around. Such stupidity I cannot believe. Apparently they believe the security device he'll have to wear will prevent that. Trying to fly out on a public airline would stop him; flying out on a private jet would not.
Well you must be mildly retarded. The US govt has demonstrated thoroughly that it will spare no expense or SWAT team in preventing ethnics from making it on Wall St. (see Raj, Aleynikov, etc)
OTOH, if you're a white harvard grad, Muslim terrorist, or Mexican drug lord, chances are you don't have much to worry about.
But if you're an evil "insider trader" ya better watch out!
that dude is gonna lose some weight now!
Hm this will be a warning to all future criminals in the US.
If WASP or JEW give a pat on the back and a couple hundo (mil) from the Fed. If Harvard grad promote directly to high office.
If "ethnic" send in tha boyz in blue, conduct illegal wiretaps, and arrange a trial by "peers." (aka various homeless crack addict degenerates off the streets of New York.)
Justice!
madoff is jewish, yes?
and who heads the office which prosecuted rajaratnam? some guy called Preet Bharara. sounds a bit brown?