Rajaratnam Said to Be Headed to Massachusetts Medical Prison
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Raj Rajaratnam, the hedge fund manager sentenced to 11 years in prison for insider trading, was assigned to a federal prison medical center in Massachusetts, according to a person familiar with the matter.
Rajaratnam, 54, was ordered by U.S. District Judge Richard Holwell to report to prison on Dec. 5. At Rajaratanam’s request, Holwell, who handed down the sentence on Oct. 13 in Manhattan federal court, recommended the Galleon Group LLC co-founder do his time at the Federal Correctional Complex in Butner, North Carolina, where convicted Ponzi schemer Bernard Madoff is serving a 150-year sentence.