Rajaratnam Defense Takes Aim At Tapes In Closing

Law360, New York (April 21, 2011, 3:57 PM EDT) -- A lawyer for Galleon Group LLC founder Raj Rajaratnam confronted the government's wiretap evidence during closing arguments Thursday in New York, arguing that damaging statements by the alleged inside trader were taken out of context.

In the high-profile case, Rajaratnam is accused of making about $53.8 million and avoiding an additional $9.9 million in losses by trading on tips from inside sources, including former friends at Intel Corp., McKinsey & Co. and Goldman Sachs Group Inc.

Saying the government's case is “make believe, and has nothing...
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