Co-defendant of hedge fund operator Rajaratnam seeks separate trial in insider trading case
By APFriday, March 12, 2010
Co-defendant of Rajaratnam seeks separate NY trial
NEW YORK — A co-defendant has asked to be tried separately in the insider trading case against wealthy hedge fund operator Raj Rajaratnam (RAHJ rah-juh-RUHT’-nuhm).
Lawyers for Danielle Chiesi (Chee-AZ-ee) filed court papers Friday asking that her case be severed from Rajaratnam’s.
Prosecutors say Rajaratnam may be responsible for $50 million in illegal profits. He has pleaded not guilty.
Chiesi’s lawyers say jurors would be confused if the two are tried together.
They note that some evidence does not pertain to Chiesi. It includes claims that money was paid to individuals for inside information.
They say airing such evidence could damage her case. She also has pleaded not guilty.
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