NEW YORK (Reuters) ? Convicted hedge fund founder Raj Rajaratnam will report to prison on Dec. 5 to begin serving his 11-year prison sentence for insider trading, a U.S. judge ruled on Monday, extending his liberty by a week.
Rajaratnam, 54, had previously been scheduled to go to prison on Nov. 28. No reason for the change was given in a written order by U.S. District Judge Richard Holwell.
The judge imposed sentence on Oct. 13 after the Galleon Group multimillionaire founder was convicted in May by a federal jury on 14 criminal charges of insider trading. Sri Lankan-born Rajaratnam was the central figure in a broad government crackdown using FBI phone taps.
His lawyers have asked the Federal Bureau of Prisons to send him to a facility in Butner, North Carolina, where his health problems, including complications from diabetes, can be treated.
It is the same prison where epic swindler Bernard Madoff, 73, is serving a life sentence for running a decades-long investment fraud of tens of billions of dollars.
The case is USA v Raj Rajaratnam et al, U.S. District Court for the Southern District of New York, No. 09-01184.
(Reporting by Grant McCool; Editing by Phil Berlowitz)
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