Hedge founder gets 11 years in insider trade probe
APBy LARRY NEUMEISTER - Associated Pres
http://news.yahoo.com/hedge-founder-get … 25462.html
NEW YORK (AP) A former billionaire described by the government as "the modern face of illegal insider trading" was sentenced Thursday to 11 years in prison, the longest insider trading sentence ever but far short of the two decades sought by prosecutors.
Galleon Group founder Raj Rajaratnam also was fined $10 million and ordered to forfeit $53.8 million by U.S. District Judge Richard J. Holwell, who said he concluded that Rajaratnam made well over $50 million in profits from his illegal trades.
well,there's one,how many more to follow?...
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