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Rajaratnam verdict marks significant government victory
12 : 38 PM - 12/05/2011


New York, May 12 (BNA) -- Like so many others recently, he let greed and corruption cause his undoing." That was the conclusion of the prosecutor behind the trial of hedge fund billionaire Raj Rajaratnam, BBC reported.

The guilty verdict against Rajaratnam, on sweeping insider trading charges, is a significant victory for the US government. Insider trading is a notoriously difficult white collar crime to prosecute.
But the jury in Manhattan, made up of eight women and four men, upheld all 14 counts of securities fraud and conspiracy against the 53-year-old.



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BNA 0934 GMT 2011/05/12

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