Tag Archives: Raj Rajaratnam

It’s not Round Hill, but it will have to do

577 Round Hill Rd

577 Round Hill Rd

Greenwich’s Raj Rajaratnam has temporarily (about 11 years) moved abodes from 577 Round Hill Road (purchased in 2000 for $7.5 million) to Ayer, Massachusetts, but apparently things aren’t as uncomfortable there as you may have feared.  I know I’m relieved.

Fat-cat financial felon Raj Rajaratnam is kickin’ it big in the Big House — with a personal “manservant” at his beck and call, a prison insider tells me.

“He’s reigning like a king,” said the source of Rajaratnam’s new digs at the Federal Medical Center Devens, in Ayer, Mass., where he’ll spend the next 11 years on an insider-trading conviction.

“He’s doing his time in the lap of luxury compared to the other inmates.”

What’s more, the source tells me, Raj “has a very delightful guy doing all sorts of stuff for him — sort of like a ‘manservant.’ When Raj needs something, this guy gets if for him.”

The manservant is a “gentle giant,” an American Samoan named Eddie, whose main job in the P3 unit is to push wheelchair-bound prisoners. He got himself transferred to P3 after befriending Raj, according to the snitch.

“He became enamored of Raj, and Raj started talking about how much he once paid his chauffeurs. Now Eddie wants to be Raj’s driver when he gets out,” the insider told me.

He even cooks for Rajaratnam using a nearby microwave when the fallen financier doesn’t want to hoof it to the dining hall.

P3 residents have private toilets, a shared balcony for sunning themselves, televisions and adjustable beds. The doors aren’t locked — but neither are they in most of the buildings at the Devens facility, according to my source.

UPDATE: Forbes columnist offers a different perspective. No one I know who’s ever been a prisoner (including myself, when as a 16-year-old cross-country hitch hiker I spend four days as a guest of the government in the San Luis Obispo County Jail) would confuse jail for freedom, regardless of amenities like a microwave oven and a private toilet (neither of which were provided in my accommodations, damn it).  I’m sure Raj is no exception.

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Bad news for Raj

Craig Drimel

A relative small fry gets 5 1/2 years in prison for his  role in the Galleon Group insider trading scheme.  Looks like Raj will get the full 25 years the government’s asking for. That’s a sentence that, at 25, might, maybe, be bearable, but speaking as someone roughly Raj’s age, you’re looking at losing what’s left of the good part of life.

Several us were discussing this over the weekend – why would a billionaire risk all this just to maybe add a couple of million to his wealth? Conclusion: ego and the desire to win. Even dumber, as the feds drew close, why didn’t he flee to his native Sri Lanka, where they worship him and would never extradite him? We couldn’t figure that one out.

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Get out your cynicism pills

 Tomorrow sees the start of the great circus, the insider-trading trial of Raj Rajaratnam of Galleon Group. It should have everything the Justice Department and the media craves: wire taps,a hugely rich defendant and, with luck, maybe even some sex. But most important, it will deflect attention from the real scandal here, the refusal of the Justice Department to pursue the people behind the financial collapse of 2008.

Country Wide’s Mozillo, a friend of Dodd? No criminal charges. Dodd himself? Off to collect $1.5 million per year as a lobbyist in California. Dick Fuld? Jamie Diamon? Fannie Mae’s execs? Are you kidding me? It can be argued, and I do, that insider trading causes no harm to investors – the same can not be said for what establishment Wall Street and Washington’s pals in the mortgage business did. But the latter have political protection, Raj does not.

So enjoy the spectacle, but don’t lose sight of the fact that this is all intended to create the illusion that our government is policing Wall Street when in fact it is doing nothing of the sort.

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Being arrested by the FBI is bad for your looks

Round Hill’s own, Raj Rajaratnam, appeared a bit distressed when arrested for insider trading but his co-conspirator Danielle Chiesi looked like day-old cat barf. Released on bond and a trip to her hair stylist later, she looks a bit better – at least, one could, with an effort, begin to believe that she traded sexual favors for information. Strategically, this is a bad move: had she retained her booking day look, no jury in the world would have believed the prosecution’s theory.

Would you give this woman the time of day?

"Oooh, Raj, you are soooo smart!

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Raj Rajaratnam, part one

The WSJ’s out with the first of a two-part story on Greenwich and Round Hill resident Raj Rajaratnam’s rise and, maybe, fall. (Go to Google news and search for Raj for access to the Journal article, if you’re not a subscriber). His top trader, Chuck whatshisname – Rothman?) , is also mentioned. Between them, the two men own at least three Greenwich properties so keep you eye out for bargains. Not saying anything bad is going to happen, mind you, but between the SEC complaint, the indictment and, it seems, a continuing FBI investigation, ya never can tell.

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Will Gary Rosenbach be moving to Round Hill Road?

 

Gary and Susan Rosenbach, tax cheats panachemag.com photo

Mr. Rosenbach, a founder of Galleon Group with Raj Rajaratnam, is seemingly implicated in the insider trading case brought against Raj. There had been speculation that Rosenbach had avoided Raj’s fate by becoming a cooperating witness but now wire taps seem to tell a different tale. All very interesting. The Rosenbach manor at 217 Taconic Road is for sale but it’s been so for years, long before the present scandal (but around the time he and Rajaratnam paid $33 million for engaging in tax fraud). It started around $23 million, is down to about $14, and Zillow says it’s worth $7. I think Zillow’s estimate is too low – this is a very nice house, on good land, but in this market, who knows? And, if Rosenbach wants to make the move to Round Hill to join Raj, Walt, Ric and all the other felons and accused felons on that street, he might take a low offer just to get there ahead of the FBI. As an aside, Rosenbach and his wife are big contributors to Hillary Cliton and Obama. Odd how often people like this who know how to take my money and spend it pay no income tax themselves. Some people get exactly what they deserve.

 

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Raj “Bernie” Rajaratnam?

This guy looked at Galleon Group’s performance going back more than ten years and is suspicious: 25% average returns, year after year, with nary a down year. Were they that good or is insider trading that profitable?

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