DealBook – Federal prosecutors recommended on Tuesday that Raj Rajaratnam, the hedge fund manager convicted of running a huge insider trading scheme, be sentenced to as many as 24 and a half years in prison.
That term is the maximum established for his crime under nonbinding sentencing guidelines, and prosecutors said it was warranted because Mr. Rajaratnam’s “criminal conduct was brazen, arrogant, harmful and pervasive.”
