Prosecutors seek 24 years for Rajaratnam

August 10, 2011 12:55

Seeking a maximum prison term for Raj Rajaratnam, the hedge fund manager convicted of running America's biggest insider trading scam, US prosecutors have recommended that he should be sentenced to as many as 24-and-a-half years for his "extensive criminal activities".

Federal prosecutors yesterday filed a 56-page 'Government's Sentencing Memorandum' recommending a "very substantial term of imprisonment proportionate to the historic nature of his crime."

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