September 21, 2011 / 10:20 PM / 7 years ago

New October 13 date set for Rajaratnam sentencing

NEW YORK (Reuters) - The sentencing of Raj Rajaratnam, the prominent hedge fund founder who was convicted in May in a sweeping insider trading prosecution, was postponed to October 13 from next Tuesday.

Galleon hedge fund founder Raj Rajaratnam leaves Manhattan Federal Court in New York April 20, 2011. REUTERS/Brendan McDermid

The single sentence written order issued on Wednesday by U.S. District Judge Richard Holwell in New York did not give a reason for the postponement of the proceeding.

Federal prosecutors have asked Holwell to sentence Galleon Group hedge fund founder Rajaratnam, 54, to between 19-1/2 years and 24-1/2 years, reflecting nonbinding federal sentencing guidelines. He was convicted by a jury on 14 securities fraud and conspiracy criminal charges in May.

Rajaratnam is represented by law firm Akin Gump Strauss Hauer & Feld, whose lawyers have requested a sentence below the guidelines, citing health reasons.

A spokeswoman for the firm declined to comment on the postponement and a spokeswoman for the office of the Manhattan U.S. Attorney also declined to comment.

The case is USA v Raj Rajaratnam et al, U.S. District Court for the Southern District of New York, No. 09-01184.

Reporting by Grant McCool; Editing by Tim Dobbyn

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below