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'Defiant' hedge fund fraudster Raj Rajaratnam could face tougher sentence
The hedge fund manager convicted of conducting America's biggest insider trading scheme has told court officials he isn't "clear" that what he did was wrong. The admission may lead to an ever harsher sentence, say legal experts. Raj Rajaratnam, 54, was convicted in May of trading on illegal stock tips. He was the key player in what has become the US authorities' largest ever insider dealing investigation, using a network of insiders to trade on companies including Google, Goldman Sachs and Hilton Hotels. He will be sentenced on 27 September and prosecutors have called for a sentence of between 19-and-a-half and ... (full story)
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