....Rajaratnam gets 11-year prison sentence

news.yahoo
not 205 years 4 "imminent kidney failure"
NEW YORK (Reuters) - Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less than prosecutors sought.

Thursday's sentencing caps a prosecution, marked by secret wiretaps of Rajaratnam and his associates, that shocked the investment world. The Sri Lanka-born fund manager once stood atop a $7 billion New York hedge fund, but was found guilty of running a network of informants who supplied him with corporate secrets.

The sentence was lighter than the 19-1/2 year minimum term that prosecutors had sought, and was only slightly more than the 10 years handed down recently to a former Rajaratnam employee at the now-shuttered Galleon Group hedge fund.

The judge, in rejecting calls for a tougher sentence, said Rajaratnam, 54, faces "imminent kidney failure" due to advanced diabetes.