Prosecutors Slam Rajaratnam In Push For Stiff Sentence

Law360, New York (October 4, 2011, 4:09 PM EDT) -- Federal prosecutors on Tuesday told the New York judge who will decide the sentence of Raj Rajaratnam that the Galleon Group LLC founder was a “serial insider trader,” making their final push for a prison sentence of up to 24 1/2 years.

Rajaratnam's gains, either from profits or losses avoided, amounted to “well north” of $50 million, government attorney Andrew Michaelson said at a hearing to determine the facts that will determine the sentence the convicted insider trader deserves under federal guidelines.

Rajaratnam is scheduled to...
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