Sri Lankan-born Hedge fund tycoon Raj Rajaratnam was sentenced to 11 years in prison for the biggest hedge fund insider trading case in the U.S., but the verdict was not as stringent as legal circles had predicted. The billionaire manager of the Galleon hedge fund, who was convicted in nine counts of securities fraud and five counts of conspiracy in May, had been expected to get a jail term of at least two decades and a fine of at least $25 million. Read more in the International Business Times here.
