Defense at Insider Trading Trial: Hedge Fund Boss Railroaded
Thursday, April 21, 2011 - 11:31 AM
The former billionaire hedge fund boss at the center of the biggest insider trading trial in U.S. history is being railroaded, according to defense lawyers.
Closing arguments in the trial of Galleon Group founder Raj Rajaratnam finished up Thursday after defense attorney John Dowd accused the government of using "worthless" testimony from witnesses.
Prosecutors, who allege Rajaratnam made $68 million off illegal inside trades, presented dozens of wiretap recordings throughout the trial. Prosecutor Reed Brodsky told jurors Wednesday that "cheating became a business model" at Galleon.
With the Associated Press