It’s been a busy week for the lawyers and defendants in the Galleon-related insider trading case.
But not because they were reviewing Raj Rajaratnam’s wiretapped conversations.
Rajaratnam and Danielle Chiese plead not guilty on Monday, and yesterday attorneys for Rajaratnam sent a letter to the court objecting to the Government’s request that the criminal trial be scheduled before the commencement of the parallel SEC. case, DealBook said.
The SEC trial, in front of Judge Jed Rakoff, is scheduled for August, which would put the criminal trial in June or July.
“Having enjoyed the publicity of commencing its civil case prior to indicting its criminal case, the government should address their problems” directly to the court, “rather than attempt to manufacture the order of its trials solely in a manner that suits its strategic interests,” attorney John Dowd said in the letter to U.S. District Judge Richard Holwell. That strategy should not be permitted to compromise the defendants’ ability to defend themselves, Dowd wrote.
With the SEC case on the fast-track for August, Dowd and his team may have expected to have the benefit of conducting depositions and other discovery in that matter that would provide helpful insight for the criminal case before having to fully focus on the criminal case itself. But if this trial schedule is kept, they will be preparing for all battles one one frantic timetable.
Dowd has not been able, he said, to properly assess whether a summer trial date is reasonable because the government is yet to produce more than 100 hours of wiretap intercepts, DealBook said.
As we noted yesterday, the wiretaps will be the focus of this case. And while the attorneys can begin preparing the relevant motions to demand the interceptions not be admitted without the benefit of listening to them, preparing a full defence on the assumption they will be admitted is impossible without actually hearing them.
The excerpts included in the complaint are, as would be expected, those portions that best represent the government’s case and do not reflect the full transcripts.
Prosecutors said they expect to turnover the intercepts by Monday. And that’s when the real work for Rajaratnam’s team at Akin Gump begins.
No New Year’s ski vacations for those attorneys.
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