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October 14, 2011

Hedge Fund Manager Sentenced to 11 Years 
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A billionaire hedge fund manager has been sentenced to 11 years in
prison for fraud and conspiracy in the largest insider trading case to
come out of the financial crisis. Using secretly recorded conversations
and the testimony of co-conspirators, prosecutors argued Raj Rajaratnam
of Galleon Management reaped profits by illegally tipping off
associates. Rajaratnam's sentence is one of the longest-ever in an
insider-trading case, but is far lower than expected.



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