Tuesday, 4 August 2015
Last updated 14 min ago
Jul 23 2010 | 12:45pm ET
A federal judge will next week hear arguments about the fate of the wiretaps at the heart of the insider-trading case against Galleon Group founder Raj Rajaratnam.
The Tuesday hearing could help decide the fates of Rajaratnam and co-defendant Danielle Chiesi. Both are set to face trial in the largest insider-trading case in U.S. history in October, and each faces more than 100 years in prison if convicted.
Rajaratnam and Chiesi’s legal teams are seeking to have the wiretaps thrown out, arguing that government misled the judge who authorized them and that the taps violated their clients’ constitutional rights. It is unclear how much of a case prosecutors would have left if they lose the taps.
Rajaratnam and Chiesi are just two of the 21 people charged in the case. A dozen of those have already pleaded guilty.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…