12 May Rajaratnam Guilty on All Insider Trading Charges!
I wrote an article a month ago about insider trading and how it wasn’t fair that the big institutions or influential people on wall street had access to private information that small guys like us don’t. You can rest assured that the playing field has now been leveled. Today, Galleon Group hedge fund founder Raj Rajaratnam was found guilty of 14 securities fraud and conspiracy charges. He profited about $64 million in profits based on non-public information and will face between 15-19 years in jail for his actions. This is very positive news as it gives the small guys a fighting chance to make money in the stock market.