Get your hankies ready. Convicted hedge-fund felon Raj Rajaratnam is expected to plead before a federal judge today that he doesn’t deserve to be sent to prison for 25 years -- because he only made $7.5 million frin his inside trades, NY Post says. And Rajaratnam didn’t even make a bonus, his legal team noted in court papers.
That’s the argument lawyers for the fallen hedge-fund founder are expected to make today in Manhattan federal court in their last-ditch effort to sidestep the 20-to-25 year prison stretch prosecutors are requesting following his May conviction for securities fraud and insider trading.
The bulk of Team Rajaratnam’s argument is that the 54-year-old founder of Galleon Group didn’t earn the nearly $64 million that prosecutors claim.
And how the judge answers the $64 million question is very important to Rajaratnam. Federal sentencing guidelines state that the larger the crime, the longer the sentence, legal experts say….
Read more at http://www.nypost.com/p/news/business/raj_to_judge_only_made_million_hY2G51s7e4RdbqyDzUpTGO
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