Raj Rajaratnam was ordered to prison for 11 years yesterday for multiple insider-trading conspiracies and trades he directed as head of one of the world’s largest hedge funds.

The pivotal figure in the most wide-ranging insider-trading prosecution in history could have done worse, as Southern District Judge Richard Holwell gave the government virtually everything it wanted by calculating a sentencing range of between 19 1/2 and 24 1/2 years in prison but imposed a sentence that fell well below that range.

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