Raj Rajaratnam thinks that his $100 million bail is too high, so he’s asked the judge to reduce it — to $25 million. He’s also asking that his travel, currently limited to within 100 miles of Manhattan, be unrestricted within the continental U.S. According to the WSJ:
In a letter Thursday, John M. Dowd, Mr. Rajaratnam’s lawyer, asked that his bail be reduced to $25 million and he be allowed to travel freely in the contiguous 48 states, as have some of his co-defendants.
“Far from posing a risk of flight as the government has suggested, Mr. Rajaratnam looks forward to his day in court where he will be able to defend himself against these charges,” Mr. Dowd wrote.
Rajaratnam Seeks Lower Bail – Wall Street Journal
Tags: bail, Galleon, Hedge funds, Insider Trading, Legal, Raj Rajaratnam
