Hedge fund executive Rajaratnam sentenced to 11 years for insider trading

[JURIST] A judge in the US District Court for the Southern District of New York [official website] on Thursday sentenced [press release, PDF] former Galleon Group hedge fund executive Raj Rajaratnam [JURIST news archive] to 11 years in prison, fined him $10 million and ordered he forfeit an additional $53.8 million. The 11-year sentence was significantly lower than the 24 1/2-year sentence requested by prosecutors [Bloomberg report] and less than the 19 1/2-year minimum [Reuters report] indicated by the non-obligatory…