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In the end, the Galleon founder was brought down by the evidence of his own conversations, phone calls he believed were secret but which were in fact being taped by the FBI, using wiretaps for the first time in an insider trading case. Jurors heard Rajaratnam gloating about the information he had obtained on companies including chipmaker AMD and Goldman Sachs.
Now we know how he did it: he was the kingpin in a massive conspiracy to harvest secret share tips from corporate informants, building Galleon in part on the profits of insider dealing, a Manhattan jury has found. On nine counts of securities fraud and five of conspiracy to commit fraud, the foreman delivered its verdict to Rajaratnam yesterday: guilty as charged.