High court declines appeal from convicted trader

The Supreme Court declined on Monday to hear Galleon Group hedge-fund founder Raj Rajaratnam's challenge to his 2011 conviction for insider trading.

In 2011, Rajaratnam was convicted on 14 counts of fraud and conspiracy for insider trading that pocketed him $60 million while avoiding losses.

It remains one of the most high-profile Wall Street insider trading cases ever brought by the U.S. Department of Justice.

He's serving an 11-year prison term.