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The extent of insider trading in the Financial Markets: Raj guilty

NEW YORK, NY - APRIL 12:  Billionaire Galleon ...

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As Reuters insider puts it – As of 11 AM Raj Rajarathnam has been found guilty on 5 counts of conspiracy and 9 counts of securities fraud and faces up to 19 years in prison. He has also been found at risk of flight. The ruling makes this insider trading investigation bigger than Michael Milken and Ivan F Boesky in the 80s

Having been found on all 14 counts his appeals may be longer drawn and likely fruitless and the bail hard to come by .  Last heard Roomy Khan who had the Google earnings tips was not brought in by Preet Bharara’s team last week while we all followed Mckinsey team members Anil gupta and chairman Rajat Gupta’s testimony with considerable interest last month

The discussion on expert networks will likely begin now in this and the Steve Cohen SAC cases of the same where this case was an example of the clearly bad eggs. Also, Sokol’s risk treatment at Berkshire Hathaway shows up the gray areas to be extensive and likely not gettign further regulated by the new SEC still struggling with Flash crashes and “Free market Economics”

Here’s the graphic from WSJ.com showing the cases which have added up in tonight’s verdict

Rajat Kumar Gupta, Chairman of the Board, The ...

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Preet Bharara

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2 comments on “The extent of insider trading in the Financial Markets: Raj guilty

  1. C. Culbertson
    June 7, 2011

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    Like

  2. Robert Kaufman
    June 18, 2011

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