Sri Lankan born American Raj Rajaratnam was sentenced to prison for 11 years today for insider trading.
The sentencing wraps up one of the biggest insider-trading cases in decades. Federal prosecutors in Manhattan sought one of the longest sentences ever for an insider trader–19 1/2 to 24 1/2 years.
Rajaratnam’s lawyers had meanwhile asked U.S. District Judge Richard Holwell for a more lenient sentence citing health concerns and say such a long prison term would amount to a death sentence.
