Samir Barai Receives SEC Ban, Fined $3.4M
by Staff Writer on January 27, 2012
Another hedge fund manager caught up in the government’s continuing insider trading probe has been banned from the financial industry and fined over $3 million.
Samir Barai, the founder of now-defunct Barai Capital Management, was barred by an order issued Wednesday by the Securities and Exchange Commission from “association with any broker, dealer, investment adviser, municipal securities dealer or transfer agent.”
Also on Monday, U.S. District Judge Jed Rakoff entered a final judgment against Barai and his firm to pay a $3.4 million penalty.
Barai will be familiar to those following the federal investigation that has led to over 50 convictions since last year.
Click link to view full article at Hedgefund.net
Ricardo Kaulessar, Hedgefund.net, January 26, 2012
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