Witness Reveals $25M Investment From Rajaratnam

Law360, New York (April 14, 2011, 8:39 PM EDT) -- A key witness testifying on behalf of accused insider trader Raj Rajaratnam told a jury on Thursday that the Galleon Group LLC founder and his family members gave him $25 million to manage in a new hedge fund in the months before the trial.

Former Galleon Chief Operating Officer Rick Schutte disclosed under questioning from prosecutors in the U.S. District Court for the Southern District of New York that Rajaratnam provided the bulk of $35 million invested in Schutte's SpotTail Capital Advisers LLC, providing a stream...
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