Rajaratnam guilty on all counts

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In what is seen as a landmark victory against Wall Street Corruption, Raj Rajaratnam was found guilty yesterday on all counts of fraud and conspiracy against him.  He was accused of receiving illegal information about insider trading and using it to increase the hedge fund he ran. He cleared more than $63.8 million off of illegal tips from public companies.

Rajaratnam, a native of Sri Lanka, faces up to 14 years in prison for his role in he scandal, which involved companies such as Goldman Sachs.  His lawyers argued that the information had been already available in industry analysis, but the Manhattan jury who convicted him did not believe his excuse.  His illegal dealings are said to stretch back up to 7 years.

 

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Reading Time: 1 minute

In what is seen as a landmark victory against Wall Street Corruption, Raj Rajaratnam was found guilty yesterday on all counts of fraud and conspiracy against him.  He was accused of receiving illegal information about insider trading and using it to increase the hedge fund he ran. He cleared more than $63.8 million off of illegal tips from public companies.

Reading Time: 1 minute

In what is seen as a landmark victory against Wall Street Corruption, Raj Rajaratnam was found guilty yesterday on all counts of fraud and conspiracy against him.  He was accused of receiving illegal information about insider trading and using it to increase the hedge fund he ran. He cleared more than $63.8 million off of illegal tips from public companies.

Rajaratnam, a native of Sri Lanka, faces up to 14 years in prison for his role in he scandal, which involved companies such as Goldman Sachs.  His lawyers argued that the information had been already available in industry analysis, but the Manhattan jury who convicted him did not believe his excuse.  His illegal dealings are said to stretch back up to 7 years.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid