Wednesday, May 11, 2011
This was a successful day for federal prosecutors in Manhattan today. Besides Raj Rajaratnam's conviction on 14 counts of securities fraud and conspiracy, in another courtroom Manosha Karunatilaka, who was an account manager at Taiwan Semiconductor Manufacturing, pleaded guilty to sharing confidential information about his employer with clients of Primary Global Research LLC, an expert-networking firm. He acknowledged that, without his employer's knowledge, he received $200 per conversation with Primary Global's clients. He faces about four years in prison.