biggest insider trading sentence

[sjain]

The fallen hedge fund billionaire Raj Rajaratnam received the longest prison sentence ever for insider trading on Thursday, 11 years in prison and fined $10 million and ordered to forfeit $53.8 million. Full article here.


Thoughts? Do you think it is justified or is he mainly a victim of anti wall street sentiment today?

 

[bansalmohit]

I think he is a victim. Most probably he didnot have any good information to tell to the authorities so he couldnt even get a bargain.

 

[bansalmohit]

1. It is justified. "Justified" is the wrong word. "Historically consistent" would be better. Martha Stewart got 2 years for if I remember correctly a sum less than a million. The scale seems to work in that case.
2. He is not a "victim". Calling him a victim is akin to calling the rapist a victim of his victim's short skirt.
3. He is not the only one that could be hung to dry for similar offenses.

You changed your picture. I always thought the previous picture was you. Anyway looks better now

 

[sjain]

If you listen to his side of the story, it seems whatever he did was WITHIN the confines of legal and regulatory system. If you believe in his story, you can argue that the system is broken and needs to be fixed, but does he need to be punished so harshly for it? I think they wanted to set a big example out of him, as a warning to mutual funds and hedge funds. 10 years ago, he probably would have been acquitted with a small fine.

 

[Abdel]

Don't do the crime, if you cain't do the time.

 

[TBeas]

Talk about sticker shock...

 

[sjain]

They all play the "they hate me because I'm rich" card.

:D