A material part is supported, but the published wording goes beyond the record.
The SEC said the US$92.8 million penalty against Raj Rajaratnam was the largest ever assessed against an individual in an SEC insider trading case.
largest penalty ever assessed against an individual in an SEC insider trading case
- About
- Galleon Group LLC
- Claim made by
- US Securities and Exchange Commission, regulator statement
- Published
- 8 November 2011
- Evidence score
- 74 How it was scored
- Last reviewed
- 25 October 2026
Why this label
The penalty amount and the court order are documented in the SEC releaseS4. The further proposition that it was the largest ever against an individual in an SEC insider trading case rests only on the SEC's own wording in the same release. The SEC states it as fact but cites no independent record to confirm the comparison across prior cases. The amount is supported. The superlative goes beyond what the record shown establishes, so a material part is supported and the rest is the SEC's own characterization.
Current procedural position
Civil final judgment entered on 8 November 2011, the record claim is the SEC's own characterizationS4.
Record supporting the assessment
largest penalty ever assessed against an individual in an SEC insider trading case
Conflicting or limiting record
No record located that conflicts with this assessment.
Evidence score: 74 of 100
The score grades how well the record establishes this assessment. It is not a score of Galleon Group LLC. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 22 | 30 | The SEC is competent on its own cases, yet the release is the party making the record claim. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 18 | 20 | The release states the superlative in plain words. |
| CorroborationDo independent records support the same material point? | 5 | 15 | No independent record was found comparing it with prior SEC individual penalties. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 12 | 15 | The underlying penalty judgment is final. |
| CurrencyHas the record been checked against later developments? | 8 | 10 | Checked to October 2026, later larger individual penalties not reviewed here. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 9 | 10 | The SEC release is public. |
| Total | 74 | 100 |
Timeline
- SEC describes the penalty as a record for an individualS4
Related cases
- SEC v. Galleon Management, LP, Raj Rajaratnam and othersUS District Court for the Southern District of New York. Civil. 09-CV-8811 (JSR).Stage: Final. Civil penalty judgment entered 8 November 2011S4
Revision history
- Assessment first published with label Partly supported.
Have a record that changes this assessment? See corrections and responses.
Sources
- S4Tier A SEC Obtains Record $92.8 Million Penalty Against Raj RajaratnamUS Securities and Exchange Commission. Regulator press release. 8 November 2011.Supports the US$92.8 million civil penalty, Judge Rakoff, the 8 November 2011 date and the SEC's own largest ever characterization. The record claim is the SEC's own wording.
- S1Tier A SEC Charges Billionaire Hedge Fund Manager Raj Rajaratnam with Insider TradingUS Securities and Exchange Commission. Regulator press release. 16 October 2009.Supports the SEC charges and the more than US$25 million illicit gains figure. It is an allegation, not a finding.
- S2Tier A SEC v. Galleon Management, LP, et al., Litigation Release No. 21255US Securities and Exchange Commission. Regulator press release. 16 October 2009.Supports the case caption, the Southern District of New York court and case number 09-CV-8811 (JSR). It states allegations only.
Other claims about Galleon Group LLC
- Supported94The US Attorney for the Southern District of New York said in October 2011 that Galleon founder Raj Rajaratnam was convicted on all 14 counts and sentenced to 11 years in prison for insider trading.Regulator statement, 13 October 20113 records citedMarket conduct
- Supported90The SEC said in November 2011 that a federal court ordered Raj Rajaratnam to pay a US$92.8 million civil penalty in its insider trading case.Regulator statement, 8 November 20112 records citedMarket conduct
- Contradicted91On appeal Raj Rajaratnam argued that the FBI wiretaps used against him were unlawfully authorized and that his conviction should be reversed.Court filing, 24 June 20131 record citedMarket conduct