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Crime & Courts

Rajaratnam renews request in NYC to toss verdict

A lawyer for the one-time billionaire hedge fund founder convicted of insider trading charges in New York has renewed his request that the judge reject the verdict.

Attorney John Dowd submitted papers Wednesday in federal court in Manhattan to support his argument that the verdict against Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm) be thrown out.

He noted in the submission that he had asked that his client be acquitted after prosecutors finished presenting their case and again before the verdict. The judge has not ruled on the requests.

Rajaratnam was convicted this month of charges alleging he made tens of millions of dollars illegally through secrets gleaned from other hedge fund professionals and corrupt employees at public companies. The Sri Lanka-born Rajaratnam founded the Galleon Group of hedge funds. He awaits sentencing.

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