October 13, 2011
Rajaratnam Gets Eleven Years
Raj Rajaratnam was sentenced to eleven years for his insider trading and ordered to pay a $10 million fine. The prosecutors had asked for up to 24 years, but the judge declined to go that high, citing the defendant's poor health (diabetes and imminent kidney failure) and charitable works. The eleven year sentence is described as among the highest; in fact, a chart on the Wall St. Journal website of insider trading sentences shows the previous longest sentences to be 10 years.
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