NEW YORK — Raj Rajaratnam, the hedge fund billionaire at the center of the biggest insider-trading case in U.S. history, was sentenced Thursday to 11 years behind bars — the stiffest punishment ever handed out for the crime. “His crimes and the scope of his crimes reflect a virus in our business culture that needs to be eradicated,” U.S. District Judge Richard J. Holwell said. “Simple justice requires a lengthy sentence.”
The 54-year-old founder of the Galleon Group hedge fund was also fined $10 million and ordered to forfeit $53.8 million in what the judge said were illicit profits from trading on confidential corporate information.
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