Rajaratnam Tries Again To Have Some Wiretaps Tossed

Jan 27 2011 | 12:53pm ET

Having failed in their efforts to keep the more damning wiretaps out of their client's trial, Raj Rajaratnam's lawyers want the more prosaic tossed.

Rajaratnam's chief attorney, John Dowd, yesterday filed a motion to exclude those intercepted conversations that he says don't show criminal wrongdoing. There are some 18,000 wiretaps at the heart of the government's insider-trading case against the Galleon Group founder.

"There are a fair number of intercepted conversations in this case that involve simply talking about how companies are doing," Dowd wrote in yesterday's filing with U.S. District Judge Richard Holwell. "Just as baseball players talk about baseball, stock professionals talk about stocks."

(Dowd is best-known as the author of the report on baseball great Pete Rose's gambling, which got Rose thrown out of baseball and has kept the sport's all-time hits leader from entering the Baseball Hall of Fame.)

Holwell ruled that the wiretaps were admissible in November, dealing Rajaratnam's defense team a serious blow. In court filings in the Securities and Exchange Commission civil case against Rajaratnam, his lawyers say only 240 of the taped conversations are relevant.

Rajaratnam's trial is set to begin at the end of next month. His is one of the few outstanding criminal cases stemming from the Galleon investigation; last week, his former co-defendant, Danielle Chiesi, struck a plea deal, and just yesterday, two former Galleon employees did the same, with one implicating Rajaratnam during his plea.

All told, more than 30 people have been charged in the case.

If convicted, Rajaratnam faces decades in prison.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note