Saturday, 23 August 2014
Last updated 13 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.
Aug 4 2014 | 7:42am ET
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The Alpha Pages Editor's Note