Jurors Rehear Wiretaps at Hedge Fund Boss' Insider Trading Trial
Tuesday, April 26, 2011
A jury has asked to listen again to wiretaps played during the largest insider trading case involving hedge funds in the U.S.
The secretly recorded phone calls are between Wall Street insiders and hedge fund boss Raj Rajaratnam, who allegedly profited from making trades based on illegally obtained information. He claims the trades were based on information available to the public.
Rajaratnam, 53, has pleaded not-guilty to conspiracy and securities fraud, while 21 defendants have pleaded guilty to insider trading.
The federal jury has deliberated for two days.
With the Associated Press