Hedge fund boss guilty in 'largest insider trading case'

US hedge fund billionaire Raj Rajaratnam has been found guilty of making tens of millions of dollars from insider trading, the BBC reports.

The unanimous verdict, which he plans to appeal, ends an eight-week trial in what prosecutors call the largest hedge fund insider trading case in history. Central to the prosecution's evidence were tapped phone calls between Galleon boss Rajaratnam and corporate insiders. The hedge fund manager faces between 15-and-a-half and 19-and-a-half years in jail. He was released on a $100m (£61m) bail with an electronic tag until the sentencing date of 29 July, although prosecutors had asked for him to be kept in custody, saying he may flee to his native Sri Lanka. Prosecutors argued Raj...