Wednesday, 24 December 2014
Last updated 12 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.