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Insider trader sentenced to 11 years in US prison

2012-08-22 8 Dailymotion

Raj Rajaratnam, a self-made hedge-fund tycoon convicted of fraud and conspiracy in the biggest Wall Street trading scandal in a generation, has been ordered to serve 11 years in prison.<br /><br />Rajaratnam's profits had been placed at between $70m and $75m by case prosecutors.<br /><br />Prosecutors had asked the judge to impose a sentence of at least 19 and a half years on Rajaratnam. However, the judge took his ailing health into consideration in granting him leniency.<br /><br />Al Jazeera's Kristen Saloomey reports from New York.

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