A federal appeals court has upheld the conviction of Raj Rajaratnam, the former hedge fund manager who was charged with orchestrating a vast insider trading conspiracy. “Rajaratnam’s arguments are not persuasive,” said the United States Court of Appeals for the Second Circuit in Manhattan in a decision published on Monday. The ruling validates the aggressive tactics deployed by federal prosecutors in the government’s sweeping investigation into insider trading on Wall Street, which has resulted in more than 70 convictions or guilty pleas since 2009. More in the New York Times here.
