Hedge Fund Billionaire Gets 11-year Sentence In Fraud Case

Raj Rajaratnam, the hedge fund billionaire at the center of one of the largest insider trading cases in history, was sentenced Thursday to 11 years in prison, according to the U.S. attorney’s office in Manhattan. It was the longest prison term in history for insider trading, the federal prosecutor’s office said, and was a major turning point in the Justice Department’s two-year probe of insider trading on Wall Street.

 

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