• 10 Mar 2011 at 4:39 PM

Raj Rajaratnam: “Should I Buy A Million?” Anil Kumar: “You Cannot Go Wrong- There Will Be Such A Boost From This Announcement”

By Bess Levin

That was one of the conversations played by the prosecution in court today, Day 3 of the Rajaratnam trial. Here was another:

“We know because one of our guys is on the board,” Rajaratnam told his friend, Rajiv Goel, during an Oct. 7, 2008, call. The two men are discussing the acquisition of PeopleSupport Inc. and Rajaratnam is telling Goel that he bought 30,000 shares for Goel’s account, according to the tape.

Incriminating or completely harmless? The government is hoping the jury’s reaction will lean toward the former, but according to the Rajaratnam defense team, the exchange was completely “harmless.” Nothing to see here.

The recordings were just “snippets” of Rajaratnam talking with two friends and two Galleon traders, said defense attorney Terence Lyman during his cross-examination of Wehner. While questioning of witness Diane Wehner, the FBI agent who helped record the calls and was brought to the stand, Lyman sought to show that the conversations were innocent and not corrupt…In the Goel conversation about PeopleSupport, Lyman sought to show that Rajaratnam was buying stocks for his longtime friend and complaining that the brokerage he used had overcharged Goel.

Talks Of Deals As First Tapes Are Played At Insider Trial [Bloomberg]

Comments (12)

  1. 1
    Posted by Guest | March 10, 2011 at 9:49 PM

    Hmmmm. I still have reasonable doubt. He could have been talking about buying a million mini marshmallows which he promptly ate.

  2. 2
    Posted by Guest | March 10, 2011 at 9:59 PM

    Looks harmless to me.

    - M. Cuban

  3. 3
    Posted by Guest | March 10, 2011 at 10:03 PM

    oops Raj did it again?

    –Can’t wait see the video

  4. 4
    Posted by BodyLanguageSpecialist | March 10, 2011 at 10:08 PM

    Rajaratnam Counsel: Raj, we recommend you take a plea deal. They have tapes of you; evidence that will put you away.
    Raj: I also like to live dangerously

  5. 5
    Posted by Anonymous | March 10, 2011 at 10:13 PM

    Anyone else imagine Kumar as sounding like Apu the Kwik-E-Mart guy from the Simpsons?

  6. 6
    Posted by Guest | March 10, 2011 at 10:15 PM

    Not interested. I’m just gearing up for the verdict reporting a la Martha Stewart style.

    http://www.thedailyshow.com/watch/mon-march-8-2004/jack-ass-reporting
    The Daily Show – 3/8/2004 – Jack-Ass Reporting

  7. 7
    Posted by dbag | March 10, 2011 at 10:22 PM

    Totally.

    -guy you might describe as a racist who thinks all Indian people must sound like kwik-e-mart employees

  8. 8
    Posted by Anonymous | March 10, 2011 at 10:42 PM

    Not sure that’s really racist per se but examining my motives nontheless.

    -guy who’s ridden in a lot of New York taxis

  9. 9
    Posted by Guest | March 11, 2011 at 1:13 AM

    Its no big deal, Kumar posted the same tip on DealBreaker.

  10. 10
    Posted by PRGY | March 11, 2011 at 2:38 PM

    wow

  11. 11
    Posted by R Ryan M | March 11, 2011 at 3:05 PM

    the trial is expected to last a while

    how hard would it be to get into the courthouse one of those days?

  12. 12
    Posted by R Ryan M | March 11, 2011 at 3:05 PM

    the trial is expected to last a while

    how hard would it be to get into the courthouse one of those days?

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