Hedge fund founder convicted in inside-trade case

Raj Rajaratnam, billionaire co- founder of Galleon Group, enters Manhattan federal court, Wednesday, May 11, 2011, in New York. Rajaratnam faces insider trading and conspiracy charges. (AP Photo/Louis Lanzano)

May 11, 2011 9:06:29 AM PDT
A former Wall Street titan was convicted Wednesday of making a fortune by coaxing a crew of corporate tipsters to give him an illegal edge on blockbuster trades in technology and other stocks - what prosecutors called the largest insider trading case ever involving hedge funds.