Boston Bombing Suspect Moved To Rajaratnam Prison, U.S Says Fund Manager Should Get 6.5 Years

Gavel

Marathon bombing suspect Dzhokhar Tsarnaev was moved from a Boston hospital to the federal medical prison in Massachusetts where former hedge fund manager Raj Rajaratnam is serving an 11-year sentence for insider trading.

Bloomberg reports that Tsarnaev, 19, was transferred to Federal Medical Center Devens, on the site of a decommissioned military base 39 miles (63 kilometers) west of Boston, the U.S. Marshals Service said Friday in a statement.

Tsarnaev, who was apprehended April 19 after a four-day manhunt that paralyzed Boston, is charged with using and conspiring to use a weapon of mass destruction in the double bombing that killed three people and injured more than 200 near the finish line of the road race. He may face the death penalty if convicted.

In the meantime, Bloomberg also reports that former Diamondback Capital Management fund manager Todd Newman deserves a prison term of as long as 6 1/2 years for his role in a $72m insider-trading scheme, prosecutors said.

Newman, 48, was convicted by a federal jury in Manhattan in December of one count of conspiracy to commit securities fraud and four counts of securities fraud for a scheme to trade on Dell and Nvidia Corp using illicit tips provided by their analysts.

His sentencing is scheduled for May 2.

Boston Bombing Suspect Moved to Same Prison as Rajaratnam

Ex-Diamondback Manager Should Get 6 1/2 Years, U.S. Says

image: © bloomsberries

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts