Thursday, 26 November 2015
Last updated 8 hours ago
Aug 9 2011 | 1:46pm ET
Just like every other defendant in recent insider-trading cases, former Primary Global Research salesman James Fleishman will have to defend himself against a mountain of wiretapped phone calls at his trial this month.
U.S. District Judge Jed Rakoff denied Fleishman's bid to have the recorded conversations thrown out of court, and also refused to call an evidentiary hearing on them. The ruling will make Fleishman's trial the third to feature wiretapped calls; the four defendants in the previous two trials also tried and failed to have the tapes ruled inadmissible.
Fleishman's lawyer had argued that the wiretaps were both overly broad—covering some 100 callers—and unnecessary, given the cooperation with prosecutors of three men who could have been used to tape their calls with Primary Global. Indeed, in the only other trial in the Primary Global case, prosecutors did not use wiretaps, relying instead on calls recorded by cooperating witnesses.
But in spite of those "extensive" efforts, Rakoff wrote in a two-page ruling, "having now fully considered the matter, the court hereby denies defendant's motion in all respects."
Fleishman's trial is set to begun on Aug. 29. He is one of 14 people charged in the case; 12 have pleaded guilty and one, Winifred Jiau, was convicted in June.
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…