Galleon’s chief Raj Rajaratnam, who was convicted in May for running one of the largest insider trading schemes in history, is currently in court awaiting his sentencing.
According to Clusterstock’s Courtney Comstock who’s at the court, Rajaratnam arrived wearing a blue stripped tie, dark charcoal suit, a white shirt.
His attorney John Dowd was not with him. There’s a new guy.
Prosecutors have been pushing for a harsher sentence of up to 24 years arguing that Rajaratnam reaped $72 million in illegal profits from his insider trading.
The defence, citing health reasons among other things, maintains Rajaratnam should have a lighter sentence of 6 1/2 to 8 years saying he only profited $7.46 million from his insider trades.
Here is a video from PBS’s videographer James Roldan.
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