Galleon Group LLC co-founder Raj Rajaratnam is asking a
federal appeals court to set aside his conviction for directing the biggest
hedge fund insider trading scheme in U.S. history one day after a key source of
his tips was sentenced to two years in prison, according to Businessweek.
The case against Rajaratnam, convicted last year of
conspiracy and securities fraud, turned on the first significant use of
government wiretaps in an insider-trading case. Those wiretaps are now at the
center of his appeal. His lawyers argue the U.S., required to exhaust other
avenues of inquiry before resorting to electronic surveillance, hid the
existence of a related Securities and Exchange Commission investigation from a
federal judge when seeking permission for a wiretap....
Wait...wait...there'smore at http://www.businessweek.com/news/2012-10-25/rajaratnam-seeks-reversal-day-after-gupta-sentenced
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