Jury selection in $50M insider trading case
Jury selection begins Tuesday in the trial of a once-powerful hedge fund boss accused of making more than $50 million by trading secret information in the stock market.
Raj Rajaratnam will be introduced to some of the prospective jurors in the pool available to hear the case.
The Sri Lanka-born one-time billionaire sat atop the hedge fund world until he was arrested on federal charges. He has pleaded not guilty.
The jury is expected to hear dozens of secretly taped conversations between the founder of the Galleon Group and his highly placed sources, including a former senior vice president of IBM and a former board member at Procter & Gamble.
Rajaratnam has remained free on $100 million bail since his October 2009 arrest.
Authorities brought charges against two dozen others in the probe. Nineteen have pleaded guilty.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
