Monday, 26 January 2015
Last updated 2 days 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…