Raj Rajaratnam Insider Conviction Upheld by Appeals Court
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Galleon Group LLC co-founder Raj Rajaratnam’s conviction for directing the most extensive insider-trading scheme in U.S. history was upheld by an appeals court, which ruled the government’s use of wiretaps was proper.
The U.S. Court of Appeals in Manhattan, in a decision issued today, affirmed Rajaratnam’s 2011 conviction for conspiracy and securities fraud and rejected his challenge to the use of wiretaps in a securities-fraud case.