The big day approaches for convicted criminal mastermind Raj Rajaratnam, a man who has become synonymous with modern illegal insider trading.

Barring yet another delay, he will be sentenced October 13 in Manhattan. Judge Richard Holwell has found himself in something of a fishbowl as the big day approaches, as both sides seem to be acutely aware of the symbolic significance his action will bear. Certainly, Rajaratnam has not pulled a Zvi Goffer and admitted his heinous acts after being found guilty by a jury, essentially throwing himself at the mercy of the judge. He has relied instead on the notion that insider trading is a victimless crime and that he is in poor health, all in an effort to win favorable treatment. 

But the prosecution is playing hardball. Most recently it has demanded that court documents about Rajaratnam's health be unsealed. They are not buying the notion that Rajaratnam is so sick that a lengthy prison term would be tantamount to a "death sentence." Federal prisons do provide health care, to be sure. Rajaratnam is known to have suffered from diabetes and a bacterial infection in his foot. Other than that, his ailments have not been disclosed.

Recall that prosecutors want a 24-and-a-half year jail term imposed by the judge presiding over the matter, which would be perhaps the longest ever for insider trading. In keeping with current white collar sentencing trends, the judge is apparently considering the financial losses involved with his crimes--which the prosecution says tops $60 billion--which suggests a lengthy term. But there is really no point speculating.

For more:
- here's the background

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