Raj Rajaratnam (54), the billionaire hedge fund manager convicted in May on 14 counts of securities fraud and conspiracy, this week faces a range of possible jail terms from 19 years and seven months to 24 years and six months as per recommendations of prosecutors in the case against him in New York.
Prior to sentencing, which will occur on October 13, prosecutors pressed for a longer jail term given current federal sentencing guidelines and the “historic nature of his crimes,” from which they alleged Mr. Rajaratnam made in excess of $70 million.
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