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Raj Rajaratnam found guilty on all counts

May 12, 2011 5:09:55 AM - itnnews.lk

A Federal jury has found Raj Rajaratnam, an LTTE sympathizer, guilty of fraud and conspiracy.

A jury of 12 members returned its verdict after hearing evidence that Rajaratnam had been engaged in a seven-year conspiracy to trade on insider information from corporate executives, bankers, consultants, traders and directors of public companies. Prosecutors said he gained 63.8 million US Dollars from such transactions. The prosecutors said Rajaratnam, who was convicted on all 14 counts, could face as much as 19 and a half years in prison under federal sentencing guidelines.