Wednesday, 23 July 2014
Last updated 33 min ago
May 10 2011 | 1:33pm ET
The jurors in the Raj Rajaratnam insider-trading case listened to a dozen more wiretapped conversations involving the Galleon Group founder yesterday, which ended without a verdict.
The panel returned to court today to begin their 11th day of deliberations and fifth since they restarted them after a juror had to be replaced. All told, the reconstituted jury has now listened to two-thirds of the 45 tapes played during the trial.
Yesterday morning, the jury asked to rehear six tapes they had listened to prior to the exit of the juror last week, telling the judge in a note that it was on behalf of their newest member. They followed that up with a request to hear another half-dozen tapes.
All but two of the 12 conversations the jury requested, and all of the first batch, were between Rajaratnam and government star witness Rajiv Goel, a former Intel Corp. analyst who testified that he passed confidential information to his former friend. The conversations dealt primarily with two deals which the government says Rajaratnam used inside information to trade on.
The other two tapes were conversations between Rajaratnam and his brother, Rengan, a former Galleon employee.
Rajaratnam faces decades in prison if convicted.
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…