Wednesday, 1 April 2015
Last updated 5 hours ago
Mar 15 2010 | 1:39pm ET
Galleon Group founder Raj Rajaratnam and former New Castle Partners executive Danielle Chiesi on Friday moved to separate their trials for insider-trading.
Lawyers for both Rajaratnam and Chiesi, who are set to go on trial in October, say that the case against them includes seven distinct conspiracy allegations that cannot be shown to be connected.
“There is an utter lack of meaningful overlaps between the seven alleged conspiracies in the case,” John Down, Rajaratnam’s lawyer, wrote to U.S. District Judge Richard Holwell. “Jurors would become confused as to which evidence pertained to which conspiracy count and, in turn, which defendant,” Chiesi’s lawyers added.
Rajaratnam’s lawyers also used the occasion to further savage the government’s case, again attacking star witness Roomy Khan, a former Galleon employee. Dowd called Khan “an inveterate fabricator” and said the government failed to tell the court about her previous insider-trading conviction and that she recanted part of her story when it sought the wiretaps at the heart of the case.
Dowd is seeking to have those wiretaps tossed out of the case.
Rajaratnam and Chiesi have pleaded not guilty. A total of 21 people have been charged in the case, and 10 have pleaded guilty.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…