Feds Cracking Down On Insider Trading

A wave of fraud cases is hitting Wall Street. Here's what it means to you.

Editor's Note: This story is scheduled to appear in the July 2011 issue of Kiplinger's Personal Finance magazine. Kiplinger.com readers are getting a sneak peek.

A billionaire hedge fund manager is found guilty of 14 federal charges stemming from a massive insider trading scheme that prosecutors said netted $63 million. Galleon Group founder Raj Rajaratnam, who will appeal the verdict, was one of 26 criminal defendants in the case, 21 of whom have pleaded guilty.

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Anne Kates Smith
Executive Editor, Kiplinger's Personal Finance

Anne Kates Smith brings Wall Street to Main Street, with decades of experience covering investments and personal finance for real people trying to navigate fast-changing markets, preserve financial security or plan for the future. She oversees the magazine's investing coverage,  authors Kiplinger’s biannual stock-market outlooks and writes the "Your Mind and Your Money" column, a take on behavioral finance and how investors can get out of their own way. Smith began her journalism career as a writer and columnist for USA Today. Prior to joining Kiplinger, she was a senior editor at U.S. News & World Report and a contributing columnist for TheStreet. Smith is a graduate of St. John's College in Annapolis, Md., the third-oldest college in America.