A subject of a grand jury investigation who, on advice of counsel, taped phone calls with a fellow broker to help protect himself cannot shield the recordings from prosecutors following an appeals court ruling.
The 2nd U.S. Circuit Court of Appeals said in In Re Grand Jury Subpoena Dated July 6, 2005, 05-6891-cv, that, even though the tapes were “fact work product,” the government had shown that there was a “substantial need for the recordings and that the information could not be obtained through other means.”
