Two-Time Insider Wants To Stay Out Of Prison To Help Others

Bloomberg reports that Khan, who provided information that helped the U.S. get a court-authorized wiretap on Rajaratnam’s phone, seeks a term of five years’ probation at her sentencing hearing scheduled today in federal court in Manhattan. Her lawyer, Stanislao German, argues that her cooperation with prosecutors eventually led to the conviction of the Galleon Group co-founder and at least a dozen other insider traders.

'I am waiting for absolution', Khan wrote in a letter to U.S. District Judge Jed Rakoff without providing any details on how she would help young people stay out of trouble. 'The career / glamour driven woman that I used to be has been completely decimated at this point'.

Prosecutors credit Khan with having provided 'very substantial assistance' to the U.S. and said she’s still helping them, while having lied, destroyed evidence and tipped off co-conspirators to the federal investigation after agreeing to assist the government in November 2007 and pleading guilty in 2009 to conspiracy, securities fraud and obstruction of justice.

Federal prosecutors aren’t allowed to recommend a specific sentence for cooperating witnesses. The most serious of her crimes carries a maximum sentence of 20 years.

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