Raj Rajaratnam ordered to serve 11 years in prison
Raj Rajaratnam, the Sri Lankan born hedge fund tycoon, who was convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, Reuters reports.
It is one of the longest sentences on record in an insider-trading case but less than prosecutors had sought.
Prosecutors had asked US District Judge Richard Holwell in Manhattan to impose a sentence of at least 19-1/2 years on the Galleon Group founder.