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A former US prison employee in Massachusetts has agreed to plead guilty to charges of secretly accepting payments from Raj Rajaratnam, a high-profile inmate and the founder of the Galleon Group hedge fund.
The papers filed with the court identify the inmate only as “Individual 1,” but a reliable source confirmed it was Raj Rajaratnam, who had been previously sentenced to an 11-year prison term for his involvement in insider trading. (Photo: The Christian Science Monitor)
Former US Prison Employee Admits Accepting Payments from High-Profile Inmate
According to the U.S. News, the payments received by the former US prison employee William Tidwell were allegedly made while Rajaratnam was serving time for insider trading.
The disclosure came from court records and a reliable source closely associated with the matter.
William Tidwell, who served as a correctional counselor at the Federal Medical Center Devens in Ayer, Massachusetts, is at the center of this scandal.
The unlawful benefits for former US prison employee Tidwell began in 2018 when he started receiving undisclosed payments from Rajaratnam and one of his close friends and business associates.
According to federal prosecutors in Boston, former US prison employee Tidwell received over $90,000 in benefits, along with a $50,000 property loan from an affluent inmate.
The payments reportedly included $25,000 to assist in repaying loans for a family member, as well as more than $65,000 in fees and other benefits related to an agreement to manage certain properties, including one where former US prison employee Tidwell resided.
In 2020, former US prison employee Tidwell reportedly received a $50,000 loan from a friend of the once-incarcerated hedge fund founder to purchase a house. However, prosecutors assert that Tidwell provided false information on the bank loan application regarding the source of the money.
The papers filed with the court identify the inmate only as “Individual 1,” but a reliable source confirmed it was Raj Rajaratnam, who had been previously sentenced to an 11-year prison term for his involvement in insider trading.
High-profile inmate Rajaratnam was ultimately released early in 2019.
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Former US Prison Employee’s Plea Deal
According to the Adviser Magazine, the case against former US prison employee Tidwell focuses on charges of bribery, making false statements to a bank, and identity theft.
As part of his plea deal, Tidwell has agreed to admit guilt to these charges. His attorney, Brad Bailey, has declined to provide any comments on the matter.
As this case unfolds, Rajaratnam himself has not been charged in connection with the allegations against former US prison employee Tidwell.
His lawyer, Samidh Guha, expressed surprise upon learning about the charges against Tidwell. Guha stated that they would cooperate accordingly with the government should they reach out to them for any information.
