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NEW YORK — A judge cited the “huge and brazen” nature of the crime as he imposed a $92 million civil penalty on a hedge-fund boss snared in the biggest insider-trading case.
Federal Judge Jed Rakoff ordered the penalty Tuesday for Raj Rajaratnam. He said Rajaratnam’s insider-trading scheme “cries out for the kind of civil penalty that will deprive” him of a material part of his fortune.
