How much is Preet Bharara worth?
|Net Worth:||$1 Million
|Profession:||Former Federal Prosecutor|
|Date of Birth:||October 13, 1968|
About Preet Bharara
Preetinder Singh Bharara, an American lawyer, author, and former federal prosecutor, was born on October 13, 1968. His estimated net worth is $1 million. In 1968, Preetinder Singh “Preet” Bharara was born in the Indian Punjabi city of Firozpur. His mother is Hindu, and his father is Sikh. Bharara was raised in Eatontown, New Jersey, until his family relocated to Monmouth County. He went to the private prep school Ranney School in nearby Tinton Falls, where he graduated as valedictorian of his class.
Bharara continued his education at Harvard University, where he received a magna cum laude in 1990. When he graduated from Columbia Law School in 1993, he was a member of the Columbia Law Review.
Beginnings of Legal Career in New York and Washington
Bharara led the inquiry of the dismissals of US attorneys by the George W. Bush administration’s judiciary subcommittee while serving as chief counsel to Sen. Charles Schumer, a Democrat from New York.
Bharara spent five years as an assistant U.S. attorney in Manhattan from 2000 to 2005, during which time he prosecuted cases against the leaders of the Gambino and Columbo crime organizations. He prosecuted Asian gangs as well. He prosecuted a variety of crimes involving racketeering, money laundering, securities fraud, and trafficking in illegal drugs.
Obama appoints him as US Attorney
Bharara was unanimously confirmed by the U.S. Senate after being nominated by President Obama on May 15, 2009, to serve as the U.S. attorney for the Southern District of New York. More than 450 people work in his office, including roughly 200 attorneys.
With the billionaire hedge fund manager Raj Rajaratnam’s conviction on insider trading charges in May 2011, Bharara’s office achieved one of its biggest legal successes. With his conviction, Bharara was recognized as the top lawmaker on Wall Street. His staff has also collaborated closely with the trustee in charge of Bernard Madoff’s business liquidation, the largest forfeiture in American history.
His office and CitiMortgage reached a civil fraud settlement in February 2012. The bank agreed to pay the US government $158.3 million after admitting it had broken HUD loan regulations. Additionally, he has focused on the illegal conduct of internet poker rooms.
Bharara has taken action against online offenders using a Complex Fraud Unit. In an opinion piece that appeared in the New York Times on June 3, 2012, Bharara raised the alarm about the growing menace of cybercrime.
Law enforcement is rushing to respond, increasing its ranks and reinforcing its defenses against cyber-malefactors, as he noted, “I have come to worry about few things as much as the gathering cyberthreat.” Businesses also need to worry. However, based on my observations, they are not doing nearly enough to safeguard their shareholders, customers, or themselves.
“Some say we are outgunned. But in my view, it is less a matter of being outgunned than being simply outdated — in our thinking and in our vision. Yes, there is an army of computer saboteurs, spies, thieves and nihilists who wish to do us harm.
But we have an army, too, or at least the makings of one, which can draw from the best of law enforcement, intelligence, business and academia.”
Bharara has sought to exercise the proper restraint and responsibility in order to balance the aggression of his office. He has stated, “You don’t want a justice system where you have cowboy prosecutors.”
Bharara chairs the subcommittee on white collar fraud and is a member of the Attorney General’s Advisory Committee. Bharara also serves as co-chair of the interagency Financial Fraud Enforcement Task Force’s Securities and Commodities Fraud Working Group.
Getting American Citizenship
Vinit Bharara, a web entrepreneur who started Diapers.com in 2005, is Bharara’s brother.
In 1980, Preet Bharara naturalized as an American. He was just 12 years old, thus he was exempt from the naturalization examination. He likes to tell people, “I think I would have done very well with it though.
Doing Justice: A Prosecutor’s Thoughts on Crime, Punishment, and the Rule of Law, Bharara’s debut book, was published in 2019. Preet Bharara’s net worth is projected to reach $1 million as of 2023.