Billionaire Found Guilty of Insider Trading
May 12th, 2011Via: BBC:
US hedge fund billionaire Raj Rajaratnam has been found guilty of making tens of millions of dollars from insider trading.
The unanimous verdict, which he plans to appeal, ends an eight-week trial in what prosecutors call the largest hedge fund insider trading case in history.
Central to the prosecution’s evidence were tapped phone calls between Rajaratnam and corporate insiders.
Rajaratnam faces between 15-and-a-half and 19-and-a-half years in jail.
