Galleon Head Convicted Of Fraud

Raj Rajaratnam, head of Galleon Group, was found guilty on all 14 counts of securities and conspiracy fraud filed against him in insider-trading case.

Raj Rajaratnam, head of Galleon Group, was found guilty on all 14 counts of securities and conspiracy fraud filed against him in insider-trading case, The Wall Street Journal reports. He was accused of illegally reaping profits or avoiding losses of about $64 million.

Rajaratnam has been convicted for nearly 15.5-19.5 years, as per the federal sentencing guidelines. Rajaratnam has also posted a $100 million bond secured by $20 million in cash or property.

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