The sentencing caps a prosecution, marked by secret wiretaps of Rajaratnam and his associates that shocked the investment world.
Sri Lanka-born billionaire Raj Rajaratnam's defence team on Wednesday told a US jury that his trading in Goldman Sachs was not based on insider information, but a great deal of research and discussion on the investment bank, especially during the financial crisis.
Galleon Group founder Raj Rajaratnam's defence team have rested their case in the biggest hedge fund insider trading trial in the US history. Rajaratnam's defence rested their case on Monday.
The Securities Appellate Tribunal chief Justice Kumar Rajaratnam has resigned amid controversy over the UBS Securities case relating to the stock market crash last year.
The court rejected Rajaratnam's arguments that wiretap evidence in his case should have been suppressed.
Rajaratnam's appeal against his conviction comes a day after a federal judge sentenced his friend and business associate Indian-American Rajat Gupta to two years imprisonment for leaking boardroom secrets to him.
A US court has denied a bid by billionaire hedge fund founder Raj Rajaratnam, convicted in May this year on insider trading charges, to reverse the verdict handed by the jury in his case.
During the trial proceedings on Tuesday, John Dowd, Galleon Group founder Rajaratnam's defence lawyer, cross-examined Kumar, a former McKinsey & Co. partner who gave his direct testimony.
Sri lankan-born Rajaratnam along with his co-conspirator Danielle Chiesi was indicted on Tuesday on charges of using non-public information from company executives to earn around $21 million in illegal profits, according to the 37-page indictment.
Rajarengan 'Rengan' Rajaratnam, 42, of Manhattan, was charged by the Federal Bureau of Investigation and the US Securities and Exchange Commission with conspiracy to commit securities fraud and six counts of securities fraud.
His conviction on insider trading charges exposed a "web of fraud and corruption that entangled many."
Raj Rajaratnam, the Galleon Group founder accused of masterminding the largest insider trading scam in the US history, has asked a judge to exclude some wiretaps from his trial next month, arguing they have little to do with the case.
Assistant US Attorney Jonathan Streeter has told US District Judge Richard Holwell that the government plans to present two more witnesses before wrapping up.
Former Intel executive and key government witness Rajiv Goel has said that he was not joking with Galleon Group founder Raj Rajaratnam when telling him about the dealings of his company.
Since April 25, 12 jury members have been deliberating on the 14 counts of securities fraud and conspiracy charges levied against the main accused Raj Rajaratnam.
Raj Rajaratnam, the key accused in the biggest insider trading case in US history, worked hard to learn how the markets was operating and didn't need illegal tips to make money, a former executive of the hedge fund has testified.
Federal prosecutors said they will file fresh charges against Sri Lankan-born hedge fund operator Raj Rajaratnam alleging he made at least $36 million from the biggest insider trading case in US history, double what was previously thought.
Former McKinsey director Anil Kumar on Friday testified against his ex-Wharton classmate and Sri Lankan-born billionaire Raj Rajaratnam in the biggest insider trading case to hit US courts in decades.
John Dowd, Rajaratnam's lawyer, asked the jury why Rajat Gupta, 62, would risk his entire career and reputation for nothing.
The sentence -- which some legal considered light -- seemed to be the result of the consideration by the court that Rajaratnam, 54, was apparently in poor health and despite being on the wrong side of the law, had contributed over the years to charities and for benevolent activities.
The younger brother of jailed hedgefund manager Raj Rajaratnam Monday pleaded not guilty at a US court to charges of conspiring in an insider trading scheme to cheat on Wall Street and earn nearly $1.2 million illegally.
Fifty-four-year-old Rajaratnam's prison sentence is scheduled to begin on December 5 at a federal penitentiary in Massachusetts.
Raj Rajaratnam made $4 million on Hilton stock in a single day after allegedly getting tips.
According to Fox News, Sri lankan-born Rajaratnam along with his co-conspirator Danielle Chiesi -- both of whom were indicted on December 15 on charges of using non-public information from company executives to earn around $21 million in illegal profits, entered their pleas before US District Judge Richard Holwell in Manhattan.
David Loeb sent emails to Rajaratnam ahead of a daily 'morning meeting' at Galleon, according to previously undisclosed emails and wiretapped phone call transcripts, which were entered as court records in the trial of former Goldman director Rajat Gupta, the Wall Street Journal said.
In the final part of the government rebuttal, US assistant attorney Jonathan Streeter contested claims made by defense attorney, John Dowd, that government witnesses told lies on the stand.
Rajiv Goel, a former Indian American Intel executive, has said that he passed secret tips to his 'friend' Raj Rajaratnam, the main accused in the largest insider trading case to hit American courts in decades.
Raj Rajaratnam's 11-year sentence might be far less than what United States District Attorney Preet Bharara sought, but the legal eagle and his team have won a "huge victory," felt Ravi Batra, another high-profile desi lawyer in Manhattan.
The report by the Wall Street Journal said that this Tipper X is Thomas Hardin, a 32-year-old trader at hedge fund Lanexa Global Management.
On the fourth day of the trial on Thursday, the jury was shown details of phone conversations from September 2008 in which Rajaratnam brags about getting information on Goldman.
The memo was submitted to Judge Richard Holwell, who is scheduled to sentence Rajaratnam on September 27.
Both the prosecution and defence made opening statements on the second day of the trial involving the Sri Lankan-born billionaire who faces charges of 14 counts of security fraud and conspiracy.
Jailed hedge-fund founder Raj Rajaratnam has agreed to pay $1.45 million to settle a civil lawsuit filed by US regulator SEC against him and India-born former Goldman Sachs director Rajat Gupta for their roles in one of the largest insider-trading schemes in US history.
The US federal prosecutors have come up with fresh charges against Sri Lanka-born billionaire Raj Rajaratnam based on new information they received from co-defendants who pleaded guilty in what has been described as the largest insider trading scam in the United States' history.
Raj Rajaratnam, the main accused in the largest hedge fund insider trading case in the United States history was on Wednesday found guilty on all 14 counts of securities fraud and conspiracy.
In an interview to Newsweek magazine, Rajaratnam, who will serve 11 years in prison, said the US government wanted him to 'wear a wire' and tape his conversations with Gupta, former chief executive officer of McKinsey.
A US judge has ordered disgraced billionaire Raj Rajaratnam to pay over USD 92 million as penalty in the insider trading case filed against him by the US financial regulator, saying the "huge and brazen nature" of his fraud "cries out" for such an unprecedented fine.
Smith, who is the US government's third key witness in the case, had pleaded guilty in January.
Attorney David Frankel questioned Joseph Yanagisawa, an employee in Goldman Sachs's technology unit, about phone calls between the global banking giant's head of Asia Equity Sales David Loeb and Rajaratnam.
Berkshire Hathaway's India-born top executive Ajit Jain was "shocked" to hear that his friend ex-McKinsey head Rajat Gupta had lost USD 10 million in an investment fund with Raj Rajaratnam, which he described as a "deliberate hanky panky" by the convicted hedge fund founder.
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