Complinet logo
Search
Contact us

Informant in Galleon insider-trading case gets a year in prison

Feb 01 2013 Nate Raymond, Reuters

Roomy Khan, a one-time technology company executive who became a key FBI informant in the insider-trading case against hedge-fund manager Raj Rajaratnam, was sentenced to 12 months in prison on Thursday. Her defense lawyer had sought five years of probation for Khan, 54, who pleaded guilty in 2009 to securities fraud, obstruction of justice and conspiracy. U.S. District Judge Jed Rakoff in Manhattan also ordered her to forfeit nearly $1.53 million. "As I reflect back, I am horrified by the choices I made," Khan said. Khan is one of only a few women who have been charged in the government's broad insider-trading crackdown, which has involved money managers, traders, consultants and lawyers. Her cooperation helped U.S. authorities in the Rajaratnam prosecution. Rajaratnam, founder of the Galleon Group, was convicted by a federal jury in May 2011 and is serving an 11-year prison term. She was also called as a government witnesses at the insider trading trial of Doug Whitman,

Already have an account?

Log in

Want to read this article?

Click here for a free 14 day trial