Friday, 25 July 2014
Last updated 16 hours 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…