Sunday, 25 January 2015
Last updated 2 days ago
Apr 29 2011 | 1:22pm ET
The jury in the Raj Rajaratnam insider-trading case deliberated for another seven-and-a-half hours yesterday without delivering a verdict.
In contrast to the first three days of deliberations, the panel did not ask for any exhibits or to hear any of the wiretaps at the center of the case replayed. The seven women and five men were to return to court today for as much as three hours of deliberation before breaking for the weekend.
With no news from the jury room, reporters covering the case instead looked to the Galleon Group founder's lead attorney, John Dowd, to pass the time.
Dowd regaled the assembled journalists with stories of some of the trials he's worked on during his long career. At one point, discussing a trial at the old U.S. courthouse next door to the one hosting the Rajaratnam trial, the 70-year-old Dowd asked his chief adversary, 41-year-old prosecutor Reed Brodsky, "Were you even alive then?"
Dowd also explained his decision not to put Rajaratnam, who faces decades in prison if convicted, on the stand.
"There's no sense giving these guys any oxygen to retry their case," he said, referring to prosecutors who could have used a cross-examination of the defendant to hammer home its case.
Dowd also lauded his client, saying that "Raj was a huge resource."
Dowd, who last week said the Rajaratnam trial would be his last, told reporters that "no one is sleeping" and that "it will take me six months to recover from this." Dowd has been working on the case for a year-and-a-half, and said he'd vacation in Cape Cod after the verdict comes down.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…