Rajaratnam, Chiesi Trials Split

Dec 15 2010 | 1:47am ET

There will be not one, but two, Galleon Group insider-trading trials next year, after a federal judge decided to separate the cases against Galleon founder Raj Rajaratnam and his now-former co-defendant Danielle Chiesi.

Rajaratnam's trial will begin on Feb. 28 with Chiesi's to follow, beginning on April 25. Rajaratnam and Chiesi have long pushed to separate the trials, and U.S. District Judge Richard Holwell ruled partially in their favor last month—while dealing both a much bigger setback when he refused to throw out the wiretaps at the heart of the government's case.

Prosecutors and the two defense teams subsequently struck a deal to separate the trials.

Rajaratnam and Chiesi are at the center of the largest insider-trading case in U.S. history, one that has already produced 14 guilty pleas. Both have pleaded not guilty to the fraud charges; if convicted, the face decades in prison.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…