Bloomberg – The U.S. Securities and Exchange Commission wants Galleon Group co-founder Raj Rajaratnam to turn over his copies of wiretaps made by the Justice Department for a related civil suit after a judge ruled they’re admissible in the government’s criminal prosecution of insider trading.
U.S. District Judge Richard J. Holwell in New York, who is presiding over the criminal case, ruled on Nov. 24 that U.S. prosecutors had properly complied with federal laws in using wiretaps to investigate Rajaratnam and former hedge fund consultant Danielle Chiesi. Holwell said the U.S. could use the wiretapped conversations in their prosecution of the two defendants.
