Galleon’s Rajaratnam Loses Post-Trial Motion for Acquittal
This article is for subscribers only.
Galleon Group LLC co-founder Raj Rajaratnam, who was found guilty of all 14 criminal counts against him by a jury in May, lost a bid to have his convictions thrown out.
U.S. District Judge Richard Holwell in Manhattan denied Rajaratnam’s request for a post-trial acquittal, ruling that prosecutors presented sufficient evidence of conspiracy and securities fraud for the jury to convict. Holwell’s ruling was dated Aug. 11 and filed today.