Galleon Group founder Raj Rajaratnam was found guilty on 14 counts involving securities fraud and conspiracy last May. Today, he was sentenced to 11 years in prison, as well as fined $10 million.
Rajaratnam, 54, declined to speak at his sentencing. Rajaratnam is due to begin his sentence at a still-unknown prison on Nov. 28. Rajaratnam was arrested in October 2009. Prosecutors had sought nearly 20 years in jail for Rajaratnam; his sentence of 11 years in prison represents the longest sentence for insider trading-related crimes.
Most Popular Stories
- SpaceX's Satellite Launch Is 'Game-Changer'
- Reid Confident Congress to Pass Immigration Bill
- Maui Visitor Killed in Shark Attack
- Donors Abandon GOP Over Gun Stance
- Mexico: 'Extremely Dangerous' Radioactive Material Stolen
- CEOs More Optimistic About Economy, Hiring
- Climate Change Early Warning System Urged
- Private Sector Employment Surges by 215,000 Jobs
- Calif. Likes Christie, Says Tea Party's a Drag
- Newtown 911 Tapes Being Released Today