{"id":10718,"date":"2011-10-13T03:10:55","date_gmt":"2011-10-13T03:10:55","guid":{"rendered":""},"modified":"2011-10-13T03:10:55","modified_gmt":"2011-10-13T03:10:55","slug":"Galleon-Group-founder-gets-11-years","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=10718","title":{"rendered":"Galleon Group founder gets 11 years"},"content":{"rendered":"

Prosecutors had sought a sentence of up to more than 20 years in prison, while Rajaratnam\u2019s lawyers had asked for no more than 8 years.<\/strong> <\/p>\n

Rajaratnam\u2019s sentence is one of the longer ones in recent insider trading cases<\/strong>, and several over recent months that his apparent lock of contrition would likely work against him. <\/p>\n

Even so, a Wall Street Journal report pointed out that sentences in white-collar cases like insider trading have been rising in recent years. <\/strong><\/p>\n

According to the paper\u2019s analysis, in the past two years, such defendants convicted in New York federal courts got 2.5-year sentences, up from 18 months in the past decade and 11.5 months between 1993 and 1999. <\/p>\n

Among other recently convicted inside traders, Zvi Goffer got 10 years, Danielle Chiesi, a consultant to Rajaratnam at Galleon, got 2.5 years, and Joseph Contorinis, a former portfolio manager in Jefferies Group Inc.\u2019s asset-management unit, got six years in prison.<\/p>\n

Source<\/a>
\n<\/p>\n","protected":false},"excerpt":{"rendered":"

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