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Raj Rajaratnam Verdict: Guilty on 14 Counts

May 11, 2011

Staff-HispanicBusiness.com

Raj Rajaratnam, Guilty



Raj Rajaratnam, the founder of the Galleon Group hedge fund, was charged with nine counts of securities fraud and five counts of conspiracy to commit such. Today, Rajaratnam was found guilty by jury trial of all counts.

Rajaratnam was arrested in 2009 on suspicion of gaining more than $63.8 million illegally through trades based on insider tips.

Rajaratnam will be sentenced on July 29; the 53-year-old faces approximately 15-20 years in prison.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: HispanicBusiness.com (c) 2011. All rights reserved.


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