2nd Circ. Upholds Rajaratnam Insider Trading Conviction

Law360, New York (June 24, 2013, 11:59 AM EDT) -- The Second Circuit on Monday upheld the insider trading conviction of former Galleon Group LLC founder Raj Rajaratnam, the hedge fund boss at the center of a sprawling government probe, affirming prosecutors' use of a controversial cellphone wiretap that led to an 11-year sentence.

The ruling by a three-judge panel marked a victory for prosecutors in the office of Manhattan U.S. Attorney Preet Bharara, who has brought insider trading charges against more than 80 individuals in recent years. Many of the defendants have had ties to Galleon....
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