Logo
BusinessBusiness

Billionaire Raj Rajaratnam will trade pin-striped suits for prison stripes come Monday.

The fallen hedge fund bigwig, who was sentenced to 11 years in prison for his conviction on insider-trading charges, was denied his request to remain free on bail pending his appeal.

After getting slapped with the longest sentence in history for insider trading, Rajaratnam was ordered to report to a federal lockup on Monday.

Rajaratnam, who suffers from diabetes and other physical ailments, has been assigned to the Federal Medical Center Davens in Massachusetts.

It will be a big change for the Galleon Group founder, who currently resides in a posh beach-side mansion in Greenwich with his wife and three children, in addition to a luxury apartment on Sutton Place in Manhattan.

A three-judge appeals court panel heard arguments for Rajaratnam’s bail request on Wednesday, and they questioned whether Rajaratnam, a Sri Lankan native, was a flight risk.

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy