Galleon Sentencing Scorecard: Average Prison Term Almost 3 Years

[dkf]

Galleon Group LLC co-founder Raj Rajaratnam is set to be sentenced today for insider trading after being convicted by a jury in Manhattan federal court for directing the biggest insider-trading scheme in a generation.

Prosecutors say Rajaratnam, who was convicted in May, should serve as long as 24 1/2 years in prison, calling him the “modern face of insider trading.” Yesterday, a federal judge in Manhattan sentenced Michael Kimelman to 30 months in prison for his role in an insider trading ring.

Since Rajaratnam’s arrest in October 2009, judges in Manhattan federal court have sentenced 14 defendants in cases linked to Galleon. All but four pleaded guilty. The average prison term has been 35.4 months, or almost three years, behind bars.

The cases are as follows:

http://www.bloomberg.com/news/2011-10-10/galleon-group-insider-scandal-yields-an-average-3-year-term-for-defendants.html

[LAGC]

1. Meanwhile, a lower-class robber gets 60+ years for stealing a mere $50.

Pretty interesting how our "justice" system works...