Billionaire Indian American hedge fund boss Raj Rajaratnam, who allegedly made over 70 million dollars through insider trading, has begun serving his 11-year prison sentence.
Rajaratnam reported to a facility in Massachusetts to start serving the longest prison term ever given to an individual for insider trading.
He has also been fined 92.8 million dollars, also a record, and his case has led to over two dozen related convictions.
The Galleon Group founder lost his bid to be freed during the appeals process, as he was considered a flight risk, the BBC reports.
Rajaratnam was convicted in May on 14 counts related to insider trading.
He made nearly 72 million dollars in illegal profits in a scheme that enlisted friends and associates both at hedge funds at a publicly traded companies.
According to the report, his prison term is nearly half of the 20 years recommended by prosecutors.
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