Thursday, 18 September 2014
Last updated 12 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.
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.