The insider-trading case starts in US
Raja
Rajatratnam
Rajaratnam
is
the
Sri
Lankan
born
founder
of
Galleon
Group,
a
New
York-based
hedge
fund
management
which
is
believed
to
have
$3
billion
of
assets.
According
to
industry
experts
the
on
going
trial
has
not
affected
the
flow
of
fund
or
the
confidence
of
current
investors.
The prosecution has also provided the recorded conversation in July 2008 between Gupta and Rajaratnam as part of the evidence in the case.
Meanwhile Rajaratnam maintains his stance that he has done nothing wrong, he faces 14 counts of securities fraud and conspiracy. Since he was arrested in 2009,
It is speculated that prosecutors have nearly 90 hours of recorded calls. In these conversations Rajaratnam spoke with different people and received information which gave him an added advantage.
The
weak
link
The
biggest
concern
for
the
prosecutors
will
be
when
Rajaratnam"s
lawyers
will
try
and
paint
Blankfein
as
a
witness
not
to
be
trusted.
Since,
he
heads
the
investment
bank
which
was
partially
responsible
for
the
financial
crisis.
And
even
now
the
gold
plated
bank
faces
numerous
legal
tug-of-war
with
the
SEC
and
different
government
agencies.
As most of the jury comes from the working class, a loss of credibility of important witnesses will deliver a big blow. This will be perhaps biggest hurdle in this case.
OneIndia News