Raj Team Pins Appeal Hopes On Wiretaps

Law360, New York (May 11, 2011, 11:25 AM ET) -- The conviction of Raj Rajaratnam came largely thanks to FBI wiretaps of the Galleon Group LLC founder, but his likely appeal will focus on whether those wiretaps should have been allowed at all, observers say.

A federal jury in Manhattan found Rajaratnam guilty on all 14 conspiracy and securities fraud charges. He faces up to 25 years in prison.

Prosecutors alleged that the 53-year-old Rajaratnam made an estimated $53.8 million and avoided an additional $9.9 million in losses by trading on tips from inside sources, including...
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