Posted by: mulrickillion | October 14, 2011

Galleon Chief Sentenced to 11-Year Term in Insider Case

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Rajaratnam left federal court in Manhattan on Thursday. John Marshall Mantel for The New York TimesRaj.

By Peter Lattman, Oct 13, 2011 — The fallen hedge fund billionaire Raj Rajaratnam received the longest prison sentence ever for insider trading on Thursday, capping an aggressive government campaign that has ensnared dozens and may help deter the illegal use of confidential information on Wall Street.

Judge Richard J. Holwell of Federal District Court in Manhattan sentenced Mr. Rajaratnam, 54, the former head of the Galleon Group hedge fund, to 11 years in prison. A jury convicted Mr. Rajaratnam of securities fraud and conspiracy in May after a two-month trial. . .

Galleon Chief Sentenced to 11-Year Term in Insider Case – NYTimes.com

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