Galleon's Raj Rajaratnam guilty of insider trading: 3 repercussions

In one of the government's biggest insider trading cases ever, a hedge fund billionaire is convicted on 14 counts of securities fraud and conspiracy

Galleon Group founder Raj Rajaratnam leaves court in New York Wednesday after being found guilty on 14 charges of securities fraud and conspiracy.
(Image credit: Andrew Burton/Getty Images)

Raj Rajaratnam, the hedge fund manager accused of using insider tips to make more than $60 million in illegal profits, was found guilty Wednesday of 14 counts of securities fraud and conspiracy. The 53-year-old billionaire founder of the Galleon Group faces nearly 20 years in prison under federal sentencing guidelines, though his lawyer indicated he would appeal. The verdict is "a significant victory for federal prosecutors," who have sought to crack down on insider-trading cases, says Ben Rooney at CNNMoney. But will one of the government's "biggest-ever" insider trading cases have larger consequences? Here, three possible repercussions:

1. "Wall Street is on notice"

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