Conspirator in Rajaratnam trial 'played' insider like piano
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siliconindia | Tuesday, 05 April 2011, 03:03:26 PM IST
New York: The prosecution played a secretly taped phone conversation to prove that the main accused in the insider trading case Raj Rajaratnam received tips about lowering of earnings estimate by Akamai Technologies.
"They're gonna guide down. I just got a call from my guy," Danielle Chiesi, a former hedge-fund manager, told Rajaratnam in the call on July 28, 2008.
"I played him like a finely tuned piano," said Chiesi, six days before the company made a public announcement.
The prosecution alleged that Chiesi got the insider tips from Kieran Taylor, a former executive in Akamai, a technology firm based in Massachusetts.
Chiesi has already pleaded guilty but Taylor has not been charged in the case. Out of the 26 people arrested in this case, 19 have pleaded guilty.
Galleon Group founder 53-year-old Rajaratnam, however, denies any wrongdoing. If found guilty, he faces up to 20 years in prison.
Source: PTI


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