RAJARATNAM: The Ace Stock Dealer

Raj Rajaratnam was no ordinary stock dealer. He was simply brilliant. A self-made billionaire, he was Forbes' 236th richest American in 2009.

Sri Lankan-born, Raj started his career as a lending officer at the Chase Manhattan Bank. He joined Needham & Co. as an analyst in 1985, focusing on the electronics industry. 

In 1991, Raj became president of the investment bank Needham & Co. at a young age of 34. At the company's behest, he founded in March 1992 the hedge fund, Needham Emerging Growth Partnership. He later bought the fund, and renamed it Galleon Group. He became a billionaire running Galleon. In Wall Street, Raj was someone people know by name.

But on 11 May 2011 (Wednesday) the New York jury found Raj (now, 53) guilty on 14 counts of fraud and conspiracy, and faced up to 205 years in prison if the judge decides to run all separate penalties consecutively. Judgment though was sent on July 29. 

Sources

Luis Torres de la Llosa: "Galleon founder guilty of massive insider trading," Agence France-Presse 12 May 2011

Wikipedia: Ray Rajaratnam