That’s a big sentence, $10 million in fines and 11 years in prison. Harsh, but then you realize he was literally the kingpin of a massive insider trading ring, it was all revolving around him and his fat face and that grotesque Danielle Chiesi he had sleeping with all these loser executives for tips…
Here’s the New York Times:
Hedge Fund Founder Raj Rajaratnam Sentenced to 11 Years in Insider Trading Case
The fallen hedge fund billionaire Raj Rajaratnam received on Thursday the longest-ever prison sentence for insider trading, a watershed moment in the government’s aggressive two-year campaign to root out the illegal exchange of confidential information on Wall Street.
Judge Richard J. Holwell sentenced Mr. Rajaratnam, the former head of the Galleon Group hedge fund, to 11 years in prison. A jury convicted him of securities fraud and conspiracy in May after a two-month trial.
Calling him “the modern face of illegal insider trading,” prosecutors accused Mr. Rajaratnam of using a corrupt network of well-placed tipsters – including former executives of Intel, I.B.M. and the consulting firm McKinsey & Company – to illicitly gain about $64 million.
Anyway, below is something i did back in May, it’s Raj’s new “Expert Network”:
Also, a guide to whether or not you’re insider trading