Pressure Rises on Galleon Insider Trade DefendantsJanuary 27, 2010 – In The News
The investigation into the Galleon hedge fund insider trading case, which is being called one of the biggest in the United States, received its eighth guilty plea, increasing the pressure on defendants Raj Rajaratnam and Danielle Chiesi. Despite this, both defendants are preparing to go to trial.
Legal professionals are not surprised by the guilty pleas.
"It puts on an enormous amount of pressure," said Ernest Badway. "It's kind of like a water torture ... you are in a shallow pool of water and they keep dipping you under every time there is a guilty plea."