Fifteen million of them.
The family of Galleon Group LLC co- founder Raj Rajaratnam invested $15 million in a fund run by Richard Schutte, the former U.S. president of the hedge fund, weeks before Schutte testified on his behalf, Schutte said.
So far Schutte has told the jury that his former boss was “amazingly educated on the issues at hand,” never asked anyone for inside information in Schutte’s presence, and charged people $25 for showing up late to meetings, implying that with a lucrative side business penalizing the tardy, Raj had no reason to use illegal means to score some extra cash. None of which he was necessarily paid off to say- he might actually believe it, depending on how inflexible Raj was with the late rule (ass not in the chair within 5 seconds of call time means pay up, etc).
Rajaratnam Family Invested in Schutte’s Fund Weeks Before Trial [Bloomberg]
Taking both sides of the deal
#Winning
Rajscurrentlawyer: So tempted to bring Mr. Bill out of retirement and let him be Raj’s new defense lawyer.
– 2 hrs ago via Twitter for iPhone
seeing winning makes me want to commit fraticide
Wow, that first year associate who was researching Schuttes bank statement credits just got the boot.
So it only counts as a bribe if the money was invested after the testimony and not 2 months before? Can someone from Above The Law help me out here?
“On redirect examination, defense attorney Michael Starr immediately asked Schutte whether Rajaratnam had promised to invest more in Spottail after the trial and whether Rajaratnam had “offered you anything in exchange for testifying for him.”
“Absolutely not,” Schutte said. “
Funny, I charge my staff $25 for coming too early.
- L. Tilton
Raj should have come to me. For $5m I’d testify to whatever, take photos of him hugging random puppies and kittens, and find photogenic hobos for him to give money to.
So much for Raj having ninja-research skills.