Wednesday, 23 July 2014
Last updated 14 hours ago
Apr 20 2011 | 1:35pm ET
After almost six weeks of testimony, the insider-trading trial of Galleon Group founder Raj Rajaratnam has reached its denouement, with both sides set to make their closing arguments today.
Testimony in the case ended on Monday, with prosecutors playing a tape between Rajaratnam and admitted co-conspirator Danielle Chiesi. “It’s been widely speculated,” Rajaratnam is heard saying of a deal involving Advanced Micro Devices. “What people don’t know is the time.”
Rajaratnam’s defense team spent the previous weeks attempting to show that Rajaratnam did nothing wrong, piling data and documents onto the jury. But Rajaratnam himself never took the stand, despite media reports prior to the trial that he wanted to do so.
If convicted, he faces up to 25 years in prison.
Depending on the length of the closing statements, jurors could begin deliberations as soon as tomorrow.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…