For anyone who’d like to see the bank executives who led America into the teeth of the financial crisis strung up by the laces of their Prada wingtips, a trip to the Southern District courthouse in Lower Manhattan may be a deflating experience.
The Observer had come to the federal courthouse seeking succor. Late last Read More
Good for the Gupta
To the list of difficulties in prosecuting securities fraud, let’s just say people who’ve pleaded guilty to insider trading do not make the most credible witnesses.
Exhibit A: Michael Cardillo, a former-Galleon Group trader who is cooperating with the government’s case against Rajat Gupta, the one-time McKinsey & Co. CEO charged with feeding tips Read More
After 16 years presiding over white collar cases in the U.S. District Court’s Southern District, you’d think Judge Jed Rakoff would be hard to disallusion. Not so. It only took six days for the insider trading trial of Rajat Gupta—the former McKinsey & Co. CEO accused of tipping Galleon Group hedge fund manager Raj Rajaratnam to sensitive corporate secrets—to cause Mr. Rakoff to hang his head in dismay.
A Morning at Court
Caryn Eisenberg took the witness stand this morning in a black halter top covered by a sequin-studded cardigan and told jurors that Rajat Gupta was among a select group of confidants who could reach Galleon Group founder Raj Rajaratnam during his busiest trading hours. She wore a gold medallion and seemed to conceal a nervous Read More
Fancy New Jobs
Disgraced Galleon Group chief Raj Rajaratnam—better known to the world as “Big Raj” or simply “Raj Raj”—was sent to the slammer for 11 years after being busted for insider trading last year, in what was 2011′s most high-profile financial crime trial. Now one of the guys who helped send him there is moving to greener pastures. “Greener,” as in, he’ll be making exponentially more cash likely defending the guys he used to send to the pen. This is how the world works!
THE SOUND OF JUSTICE IN YOUR FACE
The U.S. Attorney’s Office for the Southern District of New York just released their press statement on the eleven-year prison sentence handed down to former Galleon Group head Raj Rajaratnam for charges of Insider Trading. They obviously take no pride in this kind of thing.
The Raj Rajaratnam trial, which has been going since March 8, is now starting to take a toll on health. Jury deliberations will begin anew after a 70-year-old juror had to be dismissed yesterday for medical reasons.
Raj Rajaratnam, the hedge fund manager awaiting a verdict on charges of insider trading, has also been absent Read More
Raj Rajaratnam’s defense team would like you to forget about all those phone calls and offshore accounts and millionaires and focus on the real injustice: a reporter has used some anonymous (or, if you will, “concealed”) sources.
Raj Raj’s publicity squad has declared an unlikely war against Susan Pulliam, ace investigative reporter at the Wall Read More
Last Wednesday, inside a wood-paneled courtroom with gold taffeta curtains and wall-to-wall carpet patterned with federal seals, Raj Rajaratnam, billionaire founder of the Galleon hedge fund, stared at a far-off point in space. The man at the center of the government’s biggest insider-trading case ever, flanked by five of his attorneys and free on $100 Read More
Danielle Chiesi, former NewCastle Partners consultant and ex-beauty queen, will plead guilty this afternoon in an insider trading probe tied to the Galleon Group hedge fund, according to The New York Times.
Ms. Chiesi had been a central figure in the long-running Galleon probe, pleading not guilty in a probe led by U.S. in Read More