galleon group hedge fund

NEW YORK — Raj Rajaratnam, the hedge fund billionaire at the center of the biggest insider-trading case in U.S. history, was sentenced Thursday to 11 years behind bars — the stiffest punishment ever handed out for the crime.

“His crimes and the scope of his crimes reflect a virus in our business culture that needs to be eradicated,” U.S.

District Judge Richard J. Holwell said. “Simple justice requires a lengthy sentence.”

Raj Rajaratnam, the billionaire founder of the Galleon Group hedge fund company, goes on trial Tuesday, accused of participating in one of the largest insider trading cases in years.

The government's case is expected to hinge on the kind of evidence usually presented in organized crime cases.

» E-Mail This     » Add to Del.icio.us