Sri Lankan born Rajaratnam, 53, is accused of making $45

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canada goose outlet The testimony on Tuesday of Adam Smith, the first former Galleon employee to testify at the trial, provided a glimpse into the inner workings of Rajaratnam’s hedge fund.Smith said he passed on confidential information to the one time billionaire, including periodic email updates cheap canada goose written in code on a pending merger he learned of from the banker.Smith, 39, said he referred to Cheap Canada Goose the two companies, Integrated Circuit Systems and Integrated Devices Technology, in code as the “two eyes” to Rajaratnam. The deal was announced in June 2005 and was valued at $1.7 billion at the time.”I remember after the announcement having a sinking feeling in my stomach that this may be a problem,” he said on the witness stand in Manhattan federal court in the biggest Wall Street insider trading scandal trial in decades.Sri Lankan born Rajaratnam, 53, is accused of making $45 million in illicit profit between 2003 and 2009 on stock tips from high placed corporate insiders. He has vowed to clear his name at his criminal trial, arguing his trades were based on research or publicly available information.Smith pleaded guilty in January and said he leaked details about merger activity and earnings reports to Rajaratnam and others at Galleon.Smith was calm on the witness stand, leaning on an elbow and chewing gum as he Canada Goose Outlet answered questions canada goose outlet.


August 13, 2012 by

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