12 May 2011

Hedge fund billionaire Raj Rajaratnam is convicted of fraud

This is a big insider trading case. There is no doubt that it will be appealed. Nor is there doubt that there will be Manhattan prosecutions of others, and that there will be implications for the City of London. But, as it says in the article, there is still pressure to bring some prosecutions relating to the financial crash. This was not such a prosecution.

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