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‘Galleon’ Case Defense Gets Trial Run in Unrelated Prosecution

The U.S. government rested its case today in a prosecution that may provide a preview of next year’s trial of Galleon Group LLC co-founder Raj Rajaratnam, accused of helping direct the largest-ever hedge fund insider trading scam.

The week-long trial of Joseph Contorinis, 46, a former general partner of the Jefferies Paragon Fund, has yielded testimony by an ex-UBS AG investment banker that he was fed secret tips by a former managing director at Blackstone Group LP, and that he leaked information on mergers to an analyst at SAC Capital Advisors LP.