{"id":297198,"date":"2011-03-10T01:16:18","date_gmt":"2011-03-10T01:16:18","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/10\/galleon-trial-begins-in-new-york\/"},"modified":"2011-03-10T01:16:18","modified_gmt":"2011-03-10T01:16:18","slug":"galleon-trial-begins-in-new-york","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/10\/galleon-trial-begins-in-new-york\/","title":{"rendered":"Galleon trial begins in New York"},"content":{"rendered":"

\n \t\t
\n 9 March 2011<\/span>
\nLast updated at <\/span>20:16 ET<\/span>
\n<\/span><\/p>\n

Opening statements have been made in the trial of hedge fund manager and former billionaire Raj Rajaratnam on insider trading charges.<\/p>\n

Mr Rajaratnam is accused of making millions of dollars after getting tips from some of Wall Street’s top names. <\/p>\n

US attorney Jonathan Streeter said the case was all about “greed and corruption”.<\/p>\n

Defense lawyer John Dowd said the government was wrong and his client had done only legitimate stock research.<\/p>\n

News today?<\/span><\/p>\n

Mr Rajaratnam’s lawyers say that the government has significantly broadened its definition of insider trading.<\/p>\n

The US government has made insider trading probes into the hedge fund industry a priority, and the Rajaratnam prosecution is seen as an important case.<\/p>\n

Assistant US Attorney Jonathan Streeter claimed that Mr Rajaratnam often knew “tomorrow’s business news today”.<\/p>\n

On Wednesday the final 12 jurors, plus six alternates, were selected from a pool of about 150 people.<\/p>\n

Mr Rajaratnam has pleaded not guilty to the charges. The case may last up to two months.<\/p>\n<\/p><\/div>\n<\/p>\n

More:
\nGalleon trial begins in New York<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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