Friday, October 14, 2011

Galleon Chief Sentenced to 11-Year Term in Insider Case - NYTimes.com

Galleon Chief Sentenced to 11-Year Term in Insider Case - NYTimes.com:
"The fallen hedge fund billionaire Raj Rajaratnam received the longest prison sentence ever for insider trading on Thursday, capping an aggressive government campaign "
and later:
"“Insider trading is an assault on the free markets,” said Judge Holwell, who also imposed a $10 million fine and ordered Mr. Rajaratnam to forfeit $53.8 million in ill-gotten profits. “His crimes reflect a virus in our business culture that needs to be eradicated.”"
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