Economy Briefs

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Federal Judge Jed Rakoff ordered the penalty Tuesday for Raj Rajaratnam.

He said Rajaratnam’s insider trading scheme “cries out for the kind civil penalty that will deprive” him of a material part of his fortune.

The one-time billionaire was convicted earlier this year of insider-trading charges and was sentenced last month to 11 years in prison.

Prosecutors said he earned as much as $75 million in illegal profits. They say he acted on secrets he got from friends and colleagues in the securities industry and at public companies.

EUROPE

Brazil willing to help IMF with funds for Europe

BRASILIA, Brazil — Europe’s debt crisis is giving Brazil an opportunity to show its growing economic power.

Brazilian Finance Minister Guido Mantega said Tuesday the country is ready to help the International Monetary Fund take on the economic crisis affecting Greece, Italy and other European Union countries.

But he told reporters that those countries must take more decisive action to solve the problems.

Among the tasks mentioned by Mr. Mantega are the creation of a European Fund to deal with the debt crisis and greater use of the European Central Bank.

From wire dispatches and staff reports

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