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Government Totally Got The Wrong Impression About Galleon Group

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You know how when someone reads your emails or listens in on your phone calls and sees or hears something they weren't supposed to hear and flips out and confronts you about it? And how on a few occasions you can plead total ignorance and convince them they took everything completely out of context and be like "OMG, that's what you thought? When I said I was going to 'choke a bitch'? Wow!" And they feel like an idiot (and a bit of a degenerate) and vow to never stick their nose in your shit again for fear of looking stupid? That's kind of the approach Raj Rajaratnam is trying to take with this whole insider trading investigation.

Galleon Group LLC co-founder Raj Rajaratnam had a ready answer for every question U.S. regulators put to him about possible insider trading three years ago. “AMD on August 1st, now 13th,” Rajaratnam wrote in an Aug. 2, 2006, instant message sent to an RBC Capital Markets analyst. The analyst responded: “Hey, for the tickets have to choose package B?”

“What’s going on?” Securities and Exchange Commission lawyer Andrew Michaelson asked Rajaratnam during a formal agency deposition on June 7, 2007. He wanted to know about the link between “package B” and the ticker symbol for computer component-maker Advanced Micro Devices Inc.

“We were going to see cricket in Trinidad,” he told Michaelson. “We were talking about the cricket packages.” Rajaratnam said he didn’t recall the significance of Aug. 13.

Raj Rajaratnam Says Cricket, Not Crime, Was On His Mind [Bloomberg]