Hedge Fund Boss Found Guilty On All Counts

An ex-General Motors Co. engineer and her husband were found guilty of stealing trade secrets on hybrid-car technology from the automaker to help develop such vehicles in China. A federal court jury in Detroit reached the verdicts today after a trial that started Nov. 5. Jurors began deliberating yesterday.

NEW YORK (Reuters

AP - A former hedge fund manager in New York City has been convicted on federal charges he participated in a $7 million insider trading scam.

(NEW YORK) — A former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts was sentenced Wednesday to 2 years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend. Rajat Gupta, 63, of Westport, Conn., was sentenced by U.S. District Court Judge Jed Rakoff, who also ordered him to pay a $5 million fine.

By Insider Monkey: By: Jake Mann

[AP] - The secretly taped conversations aired at the insider trading trial of Raj Rajaratnam, a one-time billionaire hedge fund boss, have given jurors a colorful dose of the go-big-or-go-home mentality at Wall Street firms.