<p>Mark Kurland has pleaded guilty to conspiracy and securities fraud and faces a maximum possible prison sentence of 20 years in a New York federal court.<br /><br />Kurland admitted to trading on confidential information with Akami Technologies, Sun Microsystems and AMD, making him the eighth person to plead guilty in the case.<br />Another accused from New Castle, Danielle Cheisi, however, has maintained her innocence.<br /><br />Multi-billionaire and Galleon Group founder Rajaratnam, 52, was charged in the case in October. He received 13 charges, four counts of conspiracy and eight counts of security fraud.<br /><br />Galleon Group is a hedge fund with up to USD seven billion in assets under management.<br />Out of illegal profits, Rajaratnam alone made USD 36 million from inside information, which is double the amount originally calculated.<br />This is the first case to use authorised wiretaps and the investigators are still on the job. <br /><br />In December, Rajaratnman pleaded not guilty to all charges in the insider trading scandal that involves USD 52 million.<br />"People will probably ask just how pervasive is insider trading these days? Is this just the tip of the iceberg?" US Attorney Preet Bharara had said earlier.<br />Since then the case has grown to involve 21 people. <br /><br /></p>
<p>Mark Kurland has pleaded guilty to conspiracy and securities fraud and faces a maximum possible prison sentence of 20 years in a New York federal court.<br /><br />Kurland admitted to trading on confidential information with Akami Technologies, Sun Microsystems and AMD, making him the eighth person to plead guilty in the case.<br />Another accused from New Castle, Danielle Cheisi, however, has maintained her innocence.<br /><br />Multi-billionaire and Galleon Group founder Rajaratnam, 52, was charged in the case in October. He received 13 charges, four counts of conspiracy and eight counts of security fraud.<br /><br />Galleon Group is a hedge fund with up to USD seven billion in assets under management.<br />Out of illegal profits, Rajaratnam alone made USD 36 million from inside information, which is double the amount originally calculated.<br />This is the first case to use authorised wiretaps and the investigators are still on the job. <br /><br />In December, Rajaratnman pleaded not guilty to all charges in the insider trading scandal that involves USD 52 million.<br />"People will probably ask just how pervasive is insider trading these days? Is this just the tip of the iceberg?" US Attorney Preet Bharara had said earlier.<br />Since then the case has grown to involve 21 people. <br /><br /></p>