- Associated Press - Monday, June 16, 2014

WASHINGTON (AP) - The Supreme Court has rejected an appeal from a onetime billionaire hedge fund founder who was convicted on insider trading charges.

The justices did not comment Monday in letting stand the 2011 conviction of Raj Rajaratnam, who is serving an 11-year prison sentence for committing securities fraud.

Rajaratnam wanted the high court to review what role insider information played in the securities trades for which he was convicted. He also asked the justices to look at whether the government properly obtained a wiretap on his cellphone that was used to capture 2,200 private conversations.

The federal appeals court in New York previously upheld the conviction of Rajaratnam, who founded the Galleon group of hedge funds.

His brother, Rengam Rajaratnam, is facing federal fraud charges.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide