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Rajat Gupta
Supreme Court rejects appeal by Rajaratnam in insider-trading case
Supreme Court rejects appeal by Rajaratnam in insider-trading case

The Supreme Court rejected the appeal of former hedge-fund king Raj Rajaratnam to overturn his conviction and 11-year prison sentence for insider trading. Rajartnam, the founder of once high-flying Galleon Group, was convicted on 14 counts of securities fraud and conspiracy in 2011. Besides the prison term he is serving, he also was fined $10 million and ordered to forfeit more than $53 million. The former hedge-fund king argued on appeal that the trial judge should not have allowed prosecutors to use evidence obtained by a government wiretap of his cellphone. He also said prosecutors did not prove that inside information played a key role in his winning trades. The Justice...

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