The highest bail amount ever to be set in the United States was for the Galleon Group founder, Raj Rajaratnam. Raj Rajaratnam faced many criminal charges in a $20 million insider-trading scheme. His bail total amount was set at $100 million, the highest bail amount ever to be set for an individual in the United States. The bail also had to be secured by a total of $20 million in combined cash and property. Both close friends and collogues of Raj Rajaratnam repeatedly offered to help get the cash that was needed to back the bail bond.
Raj Rajaratnam had motioned a request that his bail amount be lowered to $25 million as well as to reduce the amount of property and cash that was securing the bail. The request was completely rejected and the judge stated that they saw no reason to make any modifications to the bail that had already been set.
As part of the release terms, Raj Rajaratnam was ordered to surrender his passports and travel documents to the courts as well as remain within a 110-mile radius of New York City. Raj Rajaratnam, born in Sri Lanka, was considered a major flight risk because the upholding law of 25 years in Sri Lanka does not require fugitives to be returned to the United States. He was continually monitored electronically during the entire duration of his trial, from arrest to sentencing.
Raj Rajaratnam was sentenced to 11 years in prison, a small fraction of what he could have potentially been sentenced to had he been convicted on all charges that were brought against him. He was sentenced to a federal penitentiary located in Massachusetts where he would serve his time.
