Rajaratnam, Chiesi Plead Not Guilty To Fraud Charges

By Brendan Pierson

Law360, New York (December 21, 2009, 3:55 PM ET) -- Billionaire hedge fund manager Raj Rajaratnam and former New Castle Funds LLC employee Danielle Chiesi have pled not guilty to multiple counts of conspiracy and securities fraud stemming from what prosecutors have dubbed the biggest hedge fund insider trading case in history.

The two defendants pled not guilty to a 17-count indictment Monday in the U.S. District Court for the Southern District of New York, according to Alan Kaufman of Kelley Drye & Warren LLP, who represents Chiesi.

Judge Richard J. Holwell has ordered the parties...
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