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US District Judge Jed Rakoff in Manhattan on Thursday rejected Gupta's argument that his tips to Galleon Group hedge fund founder Raj Rajaratnam were not illegal because his longtime friend gave him nothing valuable in return.
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Rajaratnam, 56, is serving an 11-year prison term following his May 2011 conviction by a Manhattan federal jury on nine counts of securities fraud and five counts of conspiracy.
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A younger brother of Raj Rajaratnam was charged with insider trading on Thursday, nearly two years after the founder of the Galleon Group hedge fund was convicted of that crime.
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Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta are urging a federal appeals court to reverse his insider trading conviction, arguing that a judge shouldn't have allowed wiretaps to be heard at trial.
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Rajat Gupta's defence lawyer Gary Naftalis has poked holes in the prosecution's case and steered the jury to possibly doubting the credibility of some witnesses
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As US prosecutors tried to nail ex-Goldman Sachs director Rajat Gupta for insider trading, a key witness told jurors that the Indian-American mulled suing convicted hedge fund founder Raj Rajaratnam after losing a whopping USD 10 million in the 2008 stock market collapse.
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A lawyer whose inside information the government alleged fueled a 17-year-long insider trading scheme was sentenced on Monday to 12 years in federal prison, the longest term ever meted out in an insider trading case.
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A federal judge has ordered Raj Rajaratnam to pay a record USD 92.8 million penalty in a related US Securities and Exchange Commission civil case.
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The following are some of the main players in the insider-trading case of Galleon Group hedge fund founder Raj Rajaratnam, who was sentenced to 11 years in prison on Thursday in Manhattan federal court.
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One-time hedge fund tycoon Raj Rajaratnam, convicted in the biggest Wall Street insider-trading case in decades, hears his punishment in court on Thursday with all signs pointing to a lengthy prison term.
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A former Moody's Investors Service analyst who bolted for India and cannot be found was ordered to pay USD 34.56 million in a US Securities and Exchange Commission lawsuit over his alleged illegal insider trading.
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Prosecutors asked a federal judge to sentence Raj Rajaratnam to as much as 24-1/2 years in prison, calling the Galleon Group hedge fund founder "arguably the most egregious violator" of insider trading laws ever to be caught.
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US securities regulators' insider-trading case against former Goldman Sachs Group Inc board member Rajat Gupta was put on hold after federal prosecutors intervened, documents show.
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Lawyers for hedge fund tycoon Raj Rajaratnam asked a judge on Wednesday to throw out the Galleon Group founder's conviction on insider trading charges.
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A stock trader testified at the insider trading trial of three former associates on Tuesday that he threw away his mobile phone after learning of the arrest of hedge fund manager Raj Rajaratnam in October 2009.
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In a trial of three New York securities traders on insider trading charges, several jurors told the judge on Tuesday they could consider the case separately and impartially from last week's conviction of high-profile Galleon Group hedge fund founder Raj Rajaratnam.
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A judge on Friday rejected an indicted securities trader's request to postpone his insider trading trial because of the broadly publicized conviction of hedge fund manager Raj Rajaratnam in the same New York court
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Raj Rajaratnam could face huge criminal fines and penalties as part of his insider trading conviction, but the hedge fund founder could remain a rich man even if he is sent to prison for a long time.
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Galleon Group hedge fund founder Raj Rajaratnam was found guilty on all 14 conspiracy and securities fraud charges of insider trading on Wednesday, a verdict that could galvanize the government's aggressive tactics in future prosecutions of Wall Street figures.
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The jury in the closely watched insider trading trial of hedge fund manager Raj Rajaratnam reheard on Monday a dozen FBI phone taps centred on one transaction in the charges against the Galleon Group founder.
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The jury weighing the fate of hedge fund manager Raj Rajaratnam began deliberations anew on Wednesday after a juror was excused for medical reasons and replaced by an alternate in the high-profile insider trading case.
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Raj Rajaratnam wanted to "conquer the stock market at the expense of the law," a U.S. prosecutor said in closing arguments of the hedge fund manager's insider trading trial on Wednesday.
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Raj Rajaratnam took advantage of friends and employees to make millions of dollars of illegal profit from insider trading, a prosecutor said as the trial of the Galleon Group hedge fund founder neared its conclusion.
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After six weeks, testimony has concluded in the landmark insider trading trial of Galleon Group's co-founder Raj Rajaratnam in the US. Now, it will be up to attorneys for Rajaratnam and the government to persuade the jury in closing arguments, which will begin on Wednesday, reports CNBC's Scott Cohn.
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Hedge fund founder Raj Rajaratnam and his family have invested USD 25 million in a USD 35 million fund managed by one of his former top executives who is testifying at Rajaratnam's insider trading trial, the jury heard on Thursday.
