Billionaire hedge fund founder Raj Rajaratnam responded forcefully to SEC insider trading charges in papers filed Tuesday by his lawyers at Akin Gump, who claim that wiretaps that federal investigators used to implicate Rajaratnam in a $20 million insider trading ring were unconstitutional. They also say the Galleon Group founder was already working with investigators on an inquiry into another hedge fund and that he relied on research analysts, not inside information, to grow his business.
Galleon Founder Accused of Insider Trading Blasts Wiretap Use
The American Lawyer
November 25, 2009