Greenwich Home of Gary Rosenbach on the Market

The Greenwich home of Gary Rosenbach, co-founder of Galleon Group, which he ran with Raj Rajaratnam, who was convicted earlier this year of the biggest insider trading scandal in history, is reportedly on the market for $13.99 million.

According to a report in the New York Post, and confirmed through local listings, the four bedroom stone manor on Midwood Drive sits on 2 1/2 acres and includes a heated pool, cascading waterfall, poolside cottage and three-car garage.

Rajaratnam was convicted earlier this year of insider trading and was sentenced last month to 11 years in prison. In addition he was fined $10 million and ordered to forfeit $53.8 million in illicit profits from trading on confidential corporate information. He is scheduled to report to prison in December.

Earlier this week a judge imposed a record $92 million civil penalty on Rajaratnam, a measure that the court said is designed to “deprive” him of a material part of his fortune.

Rosenbach was not charged with any wrongdoing in the insider-trading scandal at Galleon. He has since formed a new venture, Rockledge Capital Management LLC.

The house on Midwood Drive was reportedly purchased in July 2007 for $8,945,000.

As reported on yesterday, an earlier report in the New York Post claims that Greenwich's "hedge fund millionaires" are leaving the town "en masse" as hedge funds shut down one by one and as investors pull out.

According to a reader comment on a two-year-old post on the local, Christopher Fountain blog "For What It's Worth" the house at 21 Midwood Drive was on the market in 2009, so it may have been on the market this whole time. What's more, Rosenbach previously owned a house on Taconic Road which had been on the market for a number of years and was listed at around $14 million in Nov. 2009, according to the post.