Bloomberg News

Rajaratnam Prison Surrender Date Extended to Dec. 5

November 02, 2011

(Corrects story published Oct. 31 to remove prison assignment in second paragraph and show that judge recommended federal medical center in North Carolina in third paragraph.)

Oct. 31 (Bloomberg) -- Raj Rajaratnam, the hedge fund manager sentenced to 11 years for insider trading, will report to prison on Dec. 5, a week later than the previous date.

The surrender date for Rajaratnam, 54, was extended from Nov. 28, U.S. District Judge Richard Holwell said in a filing today in federal court in Manhattan. No reason for the extension was given in today’s filing.

Holwell this month recommended that Rajaratnam be assigned to the federal medical center in Butner, North Carolina, because of conditions that include diabetes.

The U.S. attorney’s office had no comment on the date change, said spokeswoman Ellen Davis. Kathryn Holmes Johnson, a spokeswoman for Rajaratnam’s law firm, Akin Gump Strauss Hauer & Feld LLP, said his lawyers declined to comment.

Holwell refused to grant the lawyers’ request to allow Rajaratnam to remain out of prison while the conviction is being appealed.

The inmates at Butner include the Ponzi scheme operator Bernard L. Madoff.

The case is U.S. v. Rajaratnam, 09-01184, U.S. District Court, Southern District of New York (Manhattan).

--Editors: Charles Carter, Andrew Dunn

To contact the reporter on this story: Don Jeffrey in New York at djeffrey1@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha in San Francisco at +1-415-6‘ mhytha @bloomberg.net.


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