Thursday, 18 September 2014
Last updated 1 hour ago
Jan 6 2011 | 2:57am ET
Raj Rajaratnam really doesn’t want to have to turn over the wiretap transcripts at the center of the insider-trading case against him.
The Galleon Group founder asked a judge to hold off forcing him to hand over the tap, which he received as part of discovery in the criminal case against him, until the criminal trial is over. The criminal trial is set to begin on Feb. 28; the civil trial will follow.
U.S. District Judge Richard Holwell, overseeing the criminal trial, ruled the wiretaps admissible in November. An appeals court had earlier stayed an order from the judge overseeing the civil trial, Jed Rakoff, that Rajaratnam and co-defendant Danielle Chiesi turn over the transcripts to the SEC.
Rakoff had ruled that it was unfair for one side in the case—Rajaratnam’s—to have access to key evidence unless the other side—the SEC—also got them.
There are more than 18,000 recorded conversations at issue. Rajaratnam’s legal team has previously argued that the SEC has no authority to use wiretaps.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.