Rajaratnam Begins 11-Year Insider Trading Sentence

Reuters Hedgeworld › December 06, 2011

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Summary

NEW YORK (Reuters) - Hedge fund multimillionairebegan serving his 11-year prison sentence on Monday [Dec. 5] - the longest on record for insider trading - at a former military base near a small, leafy Massachusetts town.

The 54-year-oldfounder reported to the prison about 40 miles northwest of Boston, at 12:43 p.m. EST, said Robert Lanza, a spokesman for the Federal Medical Center Devens in Ayer, Mass. He gave no further details.

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Rajaratnam Begins 11-Year Insider Trading Sentence

The prison specializes in housing prisoners with long-term medical needs. Mr. Rajaratnam is diabetic and is likely to soon ne...

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