It is one data point, but the cases where the the SEC would settle without requiring an admission of guilt or statement of facts were always likely to be those civil suits following criminal cases that did not go well. Rengan Rajnaratnam, Raj's brother, proved to be the one inside trader defendant that the Manhattan USAO could not convict. So the SEC is picking up sticks as well, in exchange for $840,000 bucks and a "let's just move on" kind of attitude. It's the kind of case where seeking an admission would likely just make the defendants dig in their heels, as I suggested here. And indeed, here's Rengan's lawyer, sounding threatening:
“The S.E.C. elected to offer, and Rengan elected to accept, a no admit/no deny settlement,” said Daniel Gitner, a lawyer for Mr. Rengan. “Rengan is moving on to the next phase of his life. If the S.E.C. has further comment, so will we.”
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