Rajaratnam convicted on all insider trading charges Hedge fund founder Raj Rajaratnam was found guilty on all 14 counts of insider trading in a sweeping victory for the government and a vindication of its aggressive use of phone taps to pursue Wall Street crimes.
Rajaratnam, at the center of the biggest insider trading investigation in decades, sat expressionless as the judge's deputy read the jury's verdict in a hushed New York courtroom. The Galleon Group founder could face at least 15 years in prison when he is sentenced on July 29.
The prosecution based its case on evidence that Rajaratnam ran a web of highly-placed insiders to leak valuable corporate secrets between 2003 and March 2009, earning an illicit $63.8 million from trading on the information. http://news.yahoo.com/s/nm/20110511/bs_nm/us_galleon_rajaratnam
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