Lisa Chow is the economics reporter at WNYC. She tries to explore in her stories surprising aspects of New York’s many economies—in plain view or hidden, in neighborhoods or sectors.
Big Wigs Testify at Hedge Fund Insider Trading Trial
Friday, March 18, 2011
So far, former executives at Intel, McKinsey, and an outsourcing company called PeopleSupport have testified in the Manhattan trial of Raj Rajaratnam, the billionaire hedge fund manager who's accused of participating in an insider trading conspiracy that earned him tens of millions of dollars.
During the trial, prosecutors have played several secretly recorded tapes of Rajaratnam's conversations.
In this excerpt, Rajaratnam is talking to Danielle Chiesi, who worked at a different hedge fund and pleaded guilty to three counts of conspiracy to commit securities fraud.
(Audio contains graphic language)
Rajaratnam's defense attorney, John Dowd, said Chiesi was "just a lot of drama" and that she never passed inside information to Rajaratnam.