On the criminal side he may get a break but Federal sentencing guidelines still apply. Within those guidelines each guilty plea comes with a range of time. I think a couple of the charges have already been dropped. The prosecution can recommend a sentence which the judge can go along with based on the recommendation. I'm sure a 100 people will correct me if I'm wrong.
However there are also civil charges pending from the SEC. That usually involves agreeing to something like never trading again in penny stocks or what ever the SEC likes to hand out along with a civil fine.
The end result someone can go to jail, lose all their illgotten gains and pay a fine as well. You are also stuck with a federal felony conviction that will haunt some people the rest of their lives.
I've seen this played out a lot of times in a former life and it ain't like TV. Lives are ruined along with reputations. Average the $4M out over a life time of potentiional earnings and imo it ain't worth it.
You think this case is interesting watch what happens to Raj when the Feds and the SEC gets done with him.