New York (HedgeCo.net) – Mark Kurland, a former partner at hedge fund New Castle Partners is to pay $4.4 million to settle allegations of insider trading, a regulatory filing has revealed.
Kurland was one of a number of executives working within the financial services industry to be involved in the SEC investigation into the activities of hedge fund Galleon Group’s founder Raj Rajaratnam. Kurland is serving a 27 month jail term after pleading guilty to insider fraud during last year.
He has now agreed to pay $4.2 million in disgorgement and a further $200,000 to cover the interest built up until the settlement was reached. Over 20 people have now been charged in the case, which is thought to be the biggest investigation into insider dealing in corporate history.
Editing by Alex Akesson
For HedgeCo.net
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