"Like so many others recently, he let greed and corruption cause his undoing." That was the conclusion of the prosecutor behind the trial of hedge fund billionaire Raj Rajaratnam.
The guilty verdict against Rajaratnam, on sweeping insider trading charges, is a significant victory for the US government. Insider trading is a notoriously difficult white collar crime to prosecute.
But the jury in Manhattan, made up of eight women and four men, upheld all 14 counts of securities fraud and conspiracy against the 53-year-old.
In a statement, US District Attorney Preet Bharara is clear: "There are rules and there are laws, and they apply to everyone, no matter who you are or how much money you have."
But the significance of the guilty verdict also depends on whether this case is seen as an isolated instance of law-breaking or part of a wider culture of greed on Wall Street.
After an eight-week trial, the jury found Rajaratnam guilty of coaxing a circle of corrupt insiders into giving him stock tips. The illegal information helped him make more than $63m (£38m), according to prosecutors.
‘Dangerous game’
The government case relied on wire-taps of Rajaratnam's telephone conversations. It is a method usually reserved for drug gangs and the mafia.
But the jury was able to hear Rajaratnam in his own words extracting private information from well-placed individuals about elite US companies including Google, Hilton and Goldman Sachs.
“Start QuoteAnybody who is engaged in this conduct right now is likely turning it right off”
End QuoteBill CurrierFormer government prosecutorProfessor John Coffee of Columbia University says this case will have an impact on Wall