Judges in Manhattan have been getting tough about insider trading.According to a report by Bloomberg on insider trader sentencing, there has been a 20% increase in the average prison term since the start of 2011.
Since then, the average inside trader has been sent to the big house for 22 months. From 2003 through 2010, the average inside trader was only sentenced to 18.4 months.
In total, there have been a total of 71 people charged with insider trading by Manhattan federal prosecutors since August of 2009.
Some of the big names that have been locked up during the last few years include Raj Rajaratnam, who is serving 11 years, one of Raj’s traders at Galleon, Zvi Goffer, who is serving 10 years, and their convicted buddy, Rajat Gupta, will be sentenced in October.
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