Raj Rajaratnam, Hedge Fund Billionaire, Guilty of Insider Trading

The Takeaway

In what has amounted to one of the largest and most prominent cases of insider trading, a billionaire hedge fund manager was found guilty Wednesday of fraud and conspiracy by a federal jury in Manhattan. Raj Rajaratnam is the co-founder of the hedge fund Galleon Group –  he was also considered one of the savviest traders on Wall Street. But for nine months, the federal government secretly recorded Rajaratnam’s phone conversations with traders and powerful corporate insiders. We get the back story with Louise Story, Wall Street and finance reporter for The New York Times.

Do you support journalism that strengthens our democracy?

At The World, we believe strongly that human-centered journalism is at the heart of an informed public and a strong democracy. We see democracy and journalism as two sides of the same coin. If you care about one, it is imperative to care about the other.

Every day, our nonprofit newsroom seeks to inform and empower listeners and hold the powerful accountable. Neither would be possible without the support of listeners like you. If you believe in our work, will you give today? We need your help now more than ever!