Galleon hedge fund founder Raj Rajaratnam let one Federal Court in Manhattan in New York on April 27, 2011.
Credit: Reuters/Mark DyeBy Carlyn Kolker and Jonathan StempelNEW YORK | Friday, April 29, 2011 3: 48 pm EDT
NEW YORK (Reuters) - the jury of the privileged Raj Rajaratnam reflex of the members of the jury of the time trial finished fifth day of deliberations without reaching a verdict on Friday, has happened in other cases of high-profile white glovecomplex.
"This is probably a sign of a jury very good and thoughtful," Robert Weisberg, a Professor of law at Stanford University said the proceedings in the trial of the founder of Galleon group hedge funds. "Very good jurors, in complicated cases, take the time".
Prosecutors have accused the Rajaratnam was born in Sri Lanka, 53, reap $ 63.8 million illegally by trading on inside tips on companies like chipmaker Advanced Micro Devices Inc. and Wall Street Goldman Sachs Group Inc. If convicted, could face a up to 25 years in prison.
A conviction that it is likely that more use call secretly recorded in the federal trial as a result. An acquittal would be a big blow for the Department of Justice of United States, which has made the investigation suspected a privileged priority.
Several other prominent white collar crimes trials have had long discussions.
Jurors needed 11 days in 2005 to convict two former officers of Tyco International Ltd., Director Ejecutivo Dennis Kozlowski and Chief Financial Officer Mark Swartz, looting of the company. A previous charge ended in a mistrial.
OneTime WorldCom Inc Chief Bernard Ebbers waited eight days in the winter of 2005 before being convicted of charges of securities fraud and inflate the statements of the carrier.
Heads of former Enron Corp, Kenneth Lay and Jeffrey Skilling waited six days before being sentenced in 2006 for their roles in one of most spectacular implosions of corporate America.
And jurors need 21 days for six weeks in 2005 to acquit former HealthSouth Corp Chief Richard Scrushy of accounting fraud. He was later convicted in a separate trial.
Some deliberations take less time. A jury took three days in 2004 to find that Martha Stewart, founder of Martha Stewart Living Omnimedia, had obstructed justice.
NOT A MATE?
In proof Rajaratnam in Manhattan federal court, the jury requested exhibitions or reproductions of audio of taps of telephone on Tuesday and Wednesday. Not since made requests related to testing. Discussions will resume on Monday.
Members of the jury have been locked in a room adjacent to the courtroom of Judge Richard Holwell's United States District. They have arisen twice to hear repetitions of 15 telephone taps. Apart from that, they have seen in the room only to tell the judge at the end of each session still were deliberating.
"The more time that goes, has less than a mate of the indictment," said Cornelius Hurley, a Professor of law at Boston University. "It should make it more easy, wiretapping." "You have the exact, contemporary words of the accused."
The verdict essentially depends on whether the Government has convinced the jury beyond reasonable doubt to Rajaratnam traded on material private information of those who have the duty not to disclose and knew that he was wrong.
"That can be heavy the idea put forward by the defence to Rajaratnam investment strategy depended on numerous pieces of information from a variety of sources and did not use the non-public material information," said Bennett Gershman, a Professor of law at the University of Pace in New York.
The members of the jury began deliberations Monday, after seven weeks of often complex tests. They try to achieve the unanimity of the nine charges of securities fraud and five counts of conspiracy.
Gershman said that the deliberations of the jury in the case of Rajaratnam could continue for a while.
"" "To listen to the magic words"stalemate","stalemate", unless" are able to reach a verdict,"the judge allowed go many, many more days," Gershman said.
The case is United States v Raj Rajaratnam et al., District Court of United States for the Southern District of New York, no. 09-01184.
(Reporting by Carlyn Kolker, Grant mccool and Jonathan Stempel)
No comments:
Post a Comment