Rajaratnam Rejects Gov't Defense Of Wiretaps

Nov 2 2010 | 2:41am ET

In case anyone—especially U.S. District Judge Richard Holwell—had forgotten or was unclear about his position on the wiretaps that could put him in prison for decades, Raj Rajaratnam has moved to ensure there is no confusion.

He still thinks the taps were illegal and should be thrown out of court.

Rajaratnam's legal team called the government's defense of the 2,400 recorded conversations "a model of misdirection." Last month, prosecutors rejected the Galleon Group founder's lawyers' arguments that "falsehoods and critical omissions pervade" the 2008 wiretap application.

"Rajaratnam failed to prove that any government representative deliberately deceived" the judge who approved the wiretaps "or had reckless disregard for whether they were deceiving the judge."

Rajaratnam is the central figure in the largest insider-trading case in U.S. history, which has snared 21 people and produced a dozen guilty pleas. If convicted, Rajaratnam faces more than 100 years in prison.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...