Reuters: Regulatory News: Conviction of Galleon's Raj Rajaratnam upheld

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Conviction of Galleon's Raj Rajaratnam upheld Jun 24th 2013, 14:10 June 24 | Mon Jun 24, 2013 10:10am EDT June 24 (Reuters) - A federal appeals court on Monday upheld the insider conviction of Galleon Group hedge fund founder Raj Rajaratnam. The 2nd U.S. Circuit Court of Appeals in New York rejected Rajaratnam's arguments that wiretap evidence in his case should have been suppressed, and that jury instructions on the use of inside information were inadequate. Rajaratnam is the highest-ranking hedge fund executive convicted in a wide-ranging federal probe into insider trading that was unveiled in October 2009.

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