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SMALL BUSINESS
Galleon fund chief disputes government claims
AP
NEW YORK -One of America's richest men is defending himself against a massive insider trading case by saying he did not cheat and the government misled a judge to obtain wiretaps.
Billionaire hedge fund operator Raj Rajaratnam's (RAHJ rah-juh-RUHT'-nuhm) lawyers made the arguments in papers filed Tuesday in federal court in Manhattan.
The Sri Lanka-born Rajaratnam is among 20 people charged in a $52 million insider trading case. The portfolio manager for the Galleon Group hedge fund remains free on $100 million bail.
Rajaratnam's lawyers say he based trades on information that was already public. They also say the government misled a judge to surreptitiously tape phone conversations by Rajaratnam and others.
Prosecutors declined comment.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-24 19:51:42
COMMENTS ( 11 )
popeloot
This comment has been deleted.
DWUZZIE
1:02PM Oct 21 2009
100 million bail ....... Whose money is that ????
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JWalk2235
1:00AM Oct 17 2009
CRUCIFY HIM, CRUCIFY HIM!
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qopfasfja
This comment has been deleted.
Dang1067
7:24PM Oct 16 2009
This little cockroach crook is nothing, catch the REAL COLOSSAL CROOKS AKA: Goldman Sachs, Wall Street and the CFTC, they're the REAL FVCKING CROOK-gods!!!!
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