Former hedge fund mogul faces long jail term

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The Independent Online

US prosecutors have asked that Raj Rajaratnam be sentenced to up to 24 and a half years in prison, according to court filings following his conviction for insider trading.

The prosecutors said Mr Rajaratnam, the billionaire founder of the Galleon hedge fund group, should be sent to prison for between 235 and 293 months. Judge Richard Holwell is expected to hand down the term at the end of next month.

"Raj Rajaratnam's criminal conduct was brazen, arrogant, harmful and pervasive," the prosecutors said in their court filing.

In an earlier filing, Mr Rajaratnam's lawyers said that leniency should be shown in light of his "failing health and the unique constellation of ailments".

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