The fallen hedge fund billionaire Raj Rajaratnam received on Thursday the longest-ever prison sentence for insider trading, a watershed moment in the government’s aggressive two-year campaign to root out the illegal exchange of confidential information on Wall Street.I surmise if Rajaratnam was a big donor to Republicans that would be relevant to the Times.
Judge Richard J. Holwell sentenced Mr. Rajaratnam, the former head of the Galleon Group hedge fund, to 11 years in prison. A jury convicted him of securities fraud and conspiracy in May after a two-month trial.
Calling him “the modern face of illegal insider trading,” prosecutors accused Mr. Rajaratnam of using a corrupt network of well-placed tipsters – including former executives of Intel, I.B.M. and the consulting firm McKinsey & Company – to illicitly gain about $64 million.
The 11-year sentence was lower than the range of roughly 19 to 24 years requested by the government.
Not only was he a huge Democrat supporter, he also had connections to the terrorist Tamil Tigers.
When he pled guilty earlier this year the Times also ignored his connections.
We noticed some other details back in May that went largely unreported.
He's lavished money on Democrats for years. Rajaratnam was even more generous with Obama, as well as with Hillary Clinton. It's quite amazing how many of her fatcat fundraisers have wound up in prison or under indictment. Rajaratnam donated over $30,000 to Obama in 2008. Gupta also showered money upon former Connecticut Senator Chris Dodd, who instead of facing charges for his role in the Fannie Mae/Freddie Mac/Countrywide scandals has landed a cushy, high-profile lobbyist gig.