Wednesday, May 11, 2011

Raj Found Guilty of Insider Trading


UPDATE: Money manager Raj Rajaratnam has been found guilty on all 14 counts of securities fraud and conspiracy, related to the non-crime of insider trading.

For now, Rajaratnam will be free on bail, but will be fitted with an electronic monitoring device.

Raj leaves court house after guilty verdict.

Update 2: Raj will be sentenced on July 29, U.S. District Judge Richard Holwell ruled after the jury delivered its verdict.

He could face 15-1/2 to 19-1/2 years in a federal prison under sentencing guidelines, prosecutors said. Sri Lankan-born Rajaratnam is 53.

No comments:

Post a Comment