Rajaratnam Verdict: Guilty on All Charges for Wall Street Hedge Fund Titan
Raj Rajaratnam, the head of one of Wall Street's largest hedge funds was found guilty on all charges on Wednesday, after a jury delivered its verdict after nearly two weeks of deliberation.
The federal jury in U.S. federal court said the Galleon Group founder was guilty on all 14 charges of conspiracy, fraud and insider trading on Wednesday.
He will remain free on bail until sentencing on July 29, according to a ruling by U.S. District Judge Richard Howell.
Rajaratman, 53, was expressionless and motionless during the verdict reading, according to courtroom media reports.
He faces between 15 and a half and 19 and a half years in federal prison, according to sentencing guidelines, prosecutors said.
Rajaratnam was convicted of five conspiracy counts and nine securities fraud charges.
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