May 11 - Galleon group founder Raj Rajaratnam was found guilty on all 14 charges of conspiracy and securities fraud and awaits sentencing on July 29th. Conway G. Gittens reports.
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Galleon Hedge Fund Founder Raj Rajaratnam has been found guilty on all fourteen counts of conspiracy and securities fraud.
The verdict is seen as a big win for the government in the highest profile insider trading case in decades.
Rajaratnam was found guilty of using insider information to pocket nearly $64 million in ill-gotten gains over a six year period.
Under federal sentencing guidelines, Rajaratnam could face up to 19-1/2 years in prison.
He will be sentenced on July 29th.
Conway Gittens, Reuters
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