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Jury Selection Begins in Hedge Fund Boss' Insider Trading Trial

Tuesday, March 08, 2011

Jury selection is set to start in Manhattan on Tuesday in the trial of hedge fund boss accused of making more than $50 million by trading secret information in the stock market.

Raj Rajaratnam, a one-time billionaire, was a big player in the world of hedge funds before he was busted in October 2009 on federal charges. He has pleaded not guilty and remained free of $100 million bail.

Dozens of secretly taped conversations between the Galleon Group founder and partners are expected to be played for the jury.

Two dozen others have been charged. Nineteen have pleaded guilty.

With the Associated Press

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