The good folks at Bloomberg report that Raj Rajaratnam, the hedge fund manager given the longest sentence for insider trading, may serve that time at a North Carolina prison whose inmates include Ponzi scheme mastermind Bernard Madoff, corporate looter John Rigas and terrorist leader Sheikh Omar Abdel Rahman.
U.S. District Judge Richard Holwell, who imposed the 11-year sentence yesterday in Manhattan federal court, said he would recommend that the Galleon Group LLC co-founder be sent to the federal medical center in Butner, North Carolina, because of Rajaratnam’s health problems, which include diabetes.
“It’s the crown jewel of the federal prison system,” said Alan Ellis, a former president of the National Association of Criminal Defense lawyers and an expert on sentencing and prisons. “It’s a very well-run facility.” The 5,045 inmates at the Butner prison complex, north of Raleigh in eastern North Carolina, also include Samuel Israel, the Bayou Group LLC hedge fund co-founder who directed a $400 million fraud, and Timothy Rigas, son of the Adelphia Communications Corp. founder John Rigas and a participant in the fraud that destroyed their company….
Wait, wait...there's more at http://www.bloomberg.com/news/2011-10-14/rajaratnam-may-join-madoff-rigas-and-blind-sheikh-at-crown-jewel-prison.html
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