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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note