After the jury convicted Rajat Gupta of insider trading, Richard Holwell- who presided over the Raj Rajaratnam insider-trading trial- said that he was not surprised by the verdict. He also said that this verdict was a great success for the US Attorney‘s office and will strengthen their attack on Wall Street‘s business ethics.
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.
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.
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.
In the US, after more than six weeks of testimony, the insider trading trial of Raj Rajaratnam entered a critical phase with both sides making their closing arguments. CNBC's Scott Cohn reports on the latest action coming out of the courtroom.
A US federal judge ordered that Galleon hedge fund founder Raj Rajaratnam must reveal taped evidence to be used in his upcoming insider trading trial set for March 8, a court document said.