Closing Statements Today In Rajaratnam Trial

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.

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…