Insider trader Rajaratnam jailed

BBC News

A former hedge-fund manager has been sentenced to 11 years in jail in New York for one of the biggest insider trading cases in American history.

Raj Rajaratnam, 54, was also fined $10m (£6.4m).

The Galleon Group founder made well over $50m from illegal trades, said the judge at the Manhattan federal court.

Sri Lankan-born Rajaratnam was convicted of 14 counts of securities fraud and conspiracy charges in May after a two-month trial.

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