▁the ▁founder ▁of ▁the ▁G alle on ▁Group ▁h edge ▁fund , ▁to ▁eleven ▁years ▁in ▁prison ▁who ▁was ▁found ▁guilty ▁of ▁four teen ▁counts ▁of ▁ins ider ▁trad ing . ▁During ▁the ▁high - profile ▁trial ▁of ▁invest or ▁Raj ▁Raj ar at nam , ▁defense ▁att or ne ys ▁used ▁the ▁m osa ic ▁theory ▁to ▁argue ▁against ▁alleg ations ▁of ▁ins ider ▁trad ing . ▁These ▁arguments ▁were ▁ultimately ▁un success ful . ▁Though ▁it ▁was ▁ten ▁years ▁shorter ▁than ▁the ▁requested ▁amount ▁of ▁time , ▁it ▁constit utes ▁as ▁the ▁longest ▁prison ▁sentence ▁given ▁to ▁an ▁ins ider ▁trad ing ▁case . ▁Under ▁the ▁Sec ur ities ▁Exchange ▁Act s 1 5 ▁US C ▁§ 7 8 j ( b ) ▁and ▁ 1 7 ▁C FR ▁§ 2 4 0 . 1 0 b - 5 , ▁Raj ar at nam ▁and ▁other ▁G alle on ▁trad ers ▁were ▁conv icted ▁with ▁fra ud ▁and ▁consp i racy . ▁They ▁prof ited ▁tens ▁of ▁millions ▁of ▁dollars ▁of ▁ins ider ▁trad ing ▁and ▁based ▁their ▁arguments ▁off ▁of ▁the ▁m osa ic ▁theory . ▁So ▁far , ▁this ▁is ▁the ▁only ▁court ▁case ▁that ▁has ▁used ▁the ▁m osa ic ▁theory ▁in ▁court ▁to ▁validate ▁ins ider ▁trad ing ▁in ▁the ▁court ▁of ▁law . ▁ ▁See ▁also ▁M osa ic ▁Ins ider ▁trad ing ▁Stock ▁valu ation ▁Class ified ▁information ▁Class ified ▁information ▁in ▁the ▁United ▁States ▁Four th ▁Am end ment ▁to ▁the ▁United ▁States ▁Constitution