Galleon Group LLC co-founder Raj Rajaratnam said the punishment sought by the government for his insider-trading convictions is “grotesquely severe” and should be rejected by the court. The U.S. said a long prison sentence is warranted.
Rajaratnam, 54, yesterday asked U.S. District Judge Richard Holwell in Manhattan for a sentence “substantially below” what is called for by federal guidelines. The government’s requested sentence of 19 1/2 to 24 1/2 years “would guarantee Mr. Rajaratnam’s death in prison,” he said in a court filing.
