Rajaratnam Is Silent in Tax-Shelter Deposition, Lawyer Says
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Galleon Group LLC co-founder Raj Rajaratnam declined to answer any questions during a deposition at the federal prison where he’s serving an 11-year sentence for securities fraud and conspiracy, a lawyer said.
Rajaratnam, convicted last year of directing the largest hedge fund insider-trading scheme in U.S. history, was interviewed yesterday for about an hour and 45 minutes at the Federal Medical Center Devens in Ayers, Massachusetts. The deposition stems from a case involving a tax shelter Rajaratnam had invested in. He isn’t a defendant in the lawsuit.