Bloomberg – Galleon Group LLC co-founder Raj Rajaratnam is set to be sentenced today for insider trading after being convicted by a jury in Manhattan federal court for directing the biggest insider-trading scheme in a generation.
Prosecutors say Rajaratnam, who was convicted in May, should serve as long as 24 1/2 years in prison, calling him the “modern face of insider trading.” Yesterday, a federal judge in Manhattan sentenced Michael Kimelman to 30 months in prison for his role in an insider trading ring.
