Raj Rajaratnam has been found guilty on all the 14 charges (9 for insider trading + 5 for fraud). The jury came out with the verdict today in NYC. This is surely a good news and hope this will help send the message to the people who are still involved in this heinous act of making money and taking the undue advantage of their knowledge and power. After the final sentencing which is due for the 29th June, Raj could face up to 15 – 19 years of prison time.
Raj was accused of making around $63 million by practicing insider trading. He not only gained confidence of the people who helped him in this fraud but also made them the part of it. Not sure what will happen to the others who helped him in this job. Raj is originally from Sri Lanka and had earned an MBA from the Wharton School of the University of Pennsylvania. He was one of the brightest and most educated on the street but again he felt helpless when it greed overtook him and now like others common criminals he is waiting for the final sentencing. The lawyers of Raj will file for the appeal and we need to wait to see the results for the same, but as of now the odds are not in the favor of Raj and he knows that.
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