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A former Wall Street titan was convicted Wednesday of making a fortune by coaxing a crew of corporate tipsters to give him an illegal edge on blockbuster trades in technology and other stocks — what prosecutors called the largest insider trading case ever involving hedge funds.
Galleon Group is winding down all its hedge funds, company founder Raj Rajaratnam told employees and investors in a letter. The decision comes after his arrest and charges in a massive insider-trading case.