| NEW YORK, June 17
NEW YORK, June 17 Jury selection began on
Tuesday in the trial of Rengan Rajaratnam, a former Galleon
Group hedge fund manager accused of conspiring with his older
brother, Raj Rajaratnam, to engage in insider trading.
U.S. prosecutors say that Rengan Rajaratnam conspired with
his brother, the founder of Galleon, to trade on inside
information about technology companies Clearwire Corp and
Advanced Micro Devices Inc in 2008.
Prosecutors say a tip about Clearwire obtained by Raj
Rajaratnam and passed along to his younger brother enabled
Rengan Rajaratnam to earn $100,000 personally and Galleon to
Rengan Rajaratnam, 43, has pleaded not guilty. His lawyer,
Daniel Gitner, has argued that the government lacks evidence
that his client knew any inside information was disclosed for a
Dressed in a dark gray suit, Rengan Rajaratnam could be seen
in the courtroom on Tuesday talking with Julie Blackman, a jury
consultant known for advising white-collar defendants.
Past clients of Blackman have included SAC Capital Advisors
portfolio manager Michael Steinberg, Goldman Sachs Group Inc
board member Rajat Gupta, and Goldman Sachs vice president
Jury selection in the trial comes a day after the U.S.
Supreme Court left intact the insider trading conviction of Raj
Rajaratnam, 57, who is serving an 11-year prison
term. A federal jury convicted him in May 2011 of
nine counts of securities fraud and five counts of conspiracy.
The case is U.S. v. Rajaratnam, U.S. District Court,
Southern District of New York, No. 13-00211.
(Editing by Noeleen Walder and Jonathan Oatis)