Galleon Group

The San Jos, the largest galleon and the flagship of one group of Spanish ships that started sailing in the 16th century, was big and - thanks to 62 bronze cannons engraved with dolphins - deadly enough to deter or destroy ships, whether pirates or rival nations.

Galleon Group hedge fund founder Raj Rajaratnam and former Goldman Sachs Group Inc director Rajat Gupta are seeking to overturn penalties imposed against them for insider trading, citing a recent US court decision that narrowed the definition of that offence.

After deliberating for less than four hours, a federal jury in New York found Rengan Rajaratnam, a former portfolio manager at Galleon, not guilty of the one conspiracy count he faced following the mid-trial dismissal by a judge of two more serious fraud charges.

A US judge on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the younger brother of Galleon Group founder Raj Rajaratnam, in a surprise development in the federal criminal insider trading case.

Rengan Rajaratnam, a former Galleon fund manager, still faces a conspiracy count, after US District Judge Naomi Reice Buchwald at a hearing in Manhattan dismissed other counts related to improper trading in technology company Clearwire Corp.

Former Goldman Sachs Group Inc director Rajat Gupta on Tuesday lost his challenge to a $13.9 million civil penalty and a permanent ban from acting as an officer for a public company, the same day he was scheduled to begin serving a two-year prison sentence.

US prosecutors accuse Rengan Rajaratnam, a former portfolio manager at Raj Rajaratnam's Galleon Group, of engaging in an insider trading scheme with his brother involving technology companies Clearwire Corp and Advanced Micro Devices Inc in 2008.

Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a US federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.

Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading.

US District Judge Jed Rakoff in Manhattan directed Mr Gupta to surrender by 2:00 p.m. EDT (1800 GMT) on that date to start serving his sentence at an institution chosen by the Federal Bureau of Prisons, according to an order issued on Thursday.

Rajaratnam, 56, is serving an 11-year prison term following his May 2011 conviction by a Manhattan federal jury on nine counts of securities fraud and five counts of conspiracy.

A federal appeals court on Monday upheld the insider trading conviction of Galleon Group hedge fund founder Raj Rajaratnam, rejecting his argument that wiretap evidence was used improperly to convict him.

Mr Rajaratnam is the highest-ranking hedge fund executive convicted in a wide-ranging federal probe into insider trading that was unveiled in October 2009.

Former Goldman Sachs Group Board of Director Rajat Gupta's attorneys asked the Judge to reverse his insider-trading conviction, saying wiretap evidence used by the prosecution should not have been introduced at trial stage.

India-born former Goldman Sachs director Rajat Gupta will seek overturning of his insider-trading conviction in a US court on Tuesday by arguing that the case rested exclusively on circumstantial evidence that relied on wiretap statements that did not involve him.

The San Jos, the largest galleon and the flagship of one group of Spanish ships that started sailing in the 16th century, was big and - thanks to 62 bronze cannons engraved with dolphins - deadly enough to deter or destroy ships, whether pirates or rival nations.

Galleon Group hedge fund founder Raj Rajaratnam and former Goldman Sachs Group Inc director Rajat Gupta are seeking to overturn penalties imposed against them for insider trading, citing a recent US court decision that narrowed the definition of that offence.

After deliberating for less than four hours, a federal jury in New York found Rengan Rajaratnam, a former portfolio manager at Galleon, not guilty of the one conspiracy count he faced following the mid-trial dismissal by a judge of two more serious fraud charges.

A US judge on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the younger brother of Galleon Group founder Raj Rajaratnam, in a surprise development in the federal criminal insider trading case.

Rengan Rajaratnam, a former Galleon fund manager, still faces a conspiracy count, after US District Judge Naomi Reice Buchwald at a hearing in Manhattan dismissed other counts related to improper trading in technology company Clearwire Corp.

Former Goldman Sachs Group Inc director Rajat Gupta on Tuesday lost his challenge to a $13.9 million civil penalty and a permanent ban from acting as an officer for a public company, the same day he was scheduled to begin serving a two-year prison sentence.

US prosecutors accuse Rengan Rajaratnam, a former portfolio manager at Raj Rajaratnam's Galleon Group, of engaging in an insider trading scheme with his brother involving technology companies Clearwire Corp and Advanced Micro Devices Inc in 2008.

Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a US federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.

Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading.

US District Judge Jed Rakoff in Manhattan directed Mr Gupta to surrender by 2:00 p.m. EDT (1800 GMT) on that date to start serving his sentence at an institution chosen by the Federal Bureau of Prisons, according to an order issued on Thursday.

Rajaratnam, 56, is serving an 11-year prison term following his May 2011 conviction by a Manhattan federal jury on nine counts of securities fraud and five counts of conspiracy.

A federal appeals court on Monday upheld the insider trading conviction of Galleon Group hedge fund founder Raj Rajaratnam, rejecting his argument that wiretap evidence was used improperly to convict him.

Mr Rajaratnam is the highest-ranking hedge fund executive convicted in a wide-ranging federal probe into insider trading that was unveiled in October 2009.

Former Goldman Sachs Group Board of Director Rajat Gupta's attorneys asked the Judge to reverse his insider-trading conviction, saying wiretap evidence used by the prosecution should not have been introduced at trial stage.

India-born former Goldman Sachs director Rajat Gupta will seek overturning of his insider-trading conviction in a US court on Tuesday by arguing that the case rested exclusively on circumstantial evidence that relied on wiretap statements that did not involve him.