Billionaire Raj Rajaratnam, the founder of the hedge fund company Galleon Group, was found guilty on 14 counts of conspiracy and securities fraud by a Manhattan jury late on Wednesday.

In what became the largest insider trading case in US history, prosecutors argued Rajaratnam made around $63.8m in illegal profits and may now face up to 19 and a half years prison.

Wall Street followed the case closely due to the implication of executives within top companies such as former Goldman Sachs director Rajat Gupta, who was accused by the Securities and Exchange Commission of funnelling confidential information to Rajaratnam.

Rajaratnam was convicted of trading on confidential company information regarding companies Intel, IBM, Hilton, eBay, Akamai Technologies, Polycom, Google, Sun Microsystems, Clearwire, AMD, ATI Technologies and PeopleSupport.

U.S. Attorney Preet Bharara said after the verdict in a statement: “Rajaratnam was among the best and the brightest – one of the most educated, successful and privileged professionals in the country. Yet, like so many others recently, he let greed and corruption cause his undoing.”