Rajaratnam Found Guilty Of Insider-Trading

May 11 2011 | 11:05am ET

Galleon Group founder Raj Rajaratnam was convicted of insider-trading today in one of the most closely-watched Wall Street trials in history.

The jury of eight men and four women found Rajaratnam guilty of all counts, nine of securities fraud and five of conspiracy to commit securities fraud, after a nine-week trial, including two-and-a-half of deliberations. Prosecutors convinced the panel that Rajaratnam ran an insider-trading ring for seven years that netted him and Galleon $63.8 million.

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