Top hedge fund founder and stock trader Raj Rajaratnam was 'expressionless' in a New York federal court on Wednesday as a jury verdict was read finding him guilty of 14 charges, including insider trading.
Federal prosecutors accused the founder of Galleon Group of of illegally earning $63.8 million from various deals over the years utilizing insider information.
The information was used to obtain forecasts on corporate earnings and deals deals at various U.S. companies including Akamai, ATI, Goldman Sachs, Google and Intel.
Much of the case relied on wiretapped telephone conversations.
A federal jury delivered a guilty verdict on all charges related to insider trading and others for Rajaratnam.
The 12-member jury said Rajaratnam was guilty on all 14 charges of conspiracy, fraud and insider trading. He will remain free on bail until a July 29 sentencing.
Raj Rajaratnam was found guilty on all 14 charges of conspiracy, fraud and insider trading. Rajaratnam was convicted of five conspiracy counts and nine securities fraud charges.
He will remain free on bail until sentencing on July 29, according to a ruling by U.S. District Judge Richard Howell.
Rajaratman, 53, was "expressionless" and "motionless" during the verdict reading, according to courtroom media reports.
He faces between 15 and a half and 19 and a half years in federal prison, according to sentencing guidelines, prosecutors said.