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Jury Begins Deliberations in Rajaratnam Case

A jury has begun deliberating at the trial of a hedge fund founder accused of making tens of millions of dollars through insider trading.

Raj Rajaratnam
AP
Raj Rajaratnam

The jury at the trial of Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm) began working at midday Monday after a federal judge in Manhattan described the law they must follow in the case.

The 53-year-old one-time billionaire went on trial eight weeks ago. The case has resulted in more than two dozen arrests and 20 guilty pleas.

Rajaratnam, who founded the Galleon Group, has maintained his innocence. He says he only based trades on publicly available information.

Prosecutors say he relied on a network of corrupt hedge fund colleagues and employees of public companies willing to divulge secrets. He was arrested in October 2009 and remains free on $100 million bail.