The names Stanley Druckenmiller, Paul Tudor Jones, Jim Pallotta, and many more might emerge in the wiretap evidence used in the Rajaratnam trial, warned the NYPost in November.
Months ago, the names of the three powerful men — and many more power names — were expected to emerge in the Raj wiretaps. So far, we haven’t heard Druckenmiller, PTJ, or Pallotta mentioned.
The men probably aren’t breathing a sigh of relief yet. In the fall, the Post reported that some people were worried that the evidence released will embarrass them.
Watching the trial, we’ve noticed a number of men observing the process for unknown reasons. We suspect that some of the people viewing the trial are doing so for clients that want to make sure nothing about them emerges in the course of the trial.
Three anonymous people who the NYPost says “spoke to Raj regularly over the years” wrote the court a memo saying:
“Releasing wiretap information even to the Securities and Exchange Commission could damage the reputation and professional standing of individuals who participate in a wide array of financial, political, legal, and social circles.”
A small taste of the kind of evidence we can expect emerged already. Some of it is just funny – not embarassing or repuationally-damaging at all.For example, Druckenmiller, PTJ, and Jim Pallotta play Fantasy Football together in a league.
From the NYPost:
Druckenmiller, who made headlines recently with news he’s shuttering his fund despite its successes, has never been charged or implicated in any wrongdoing. He and Rajaratnam, founder of hedge-fund firm Galleon Group, spoke frequently because they were in a fantasy football league together, which also included high-profile hedge-fund names like Paul Tudor Jones and Jim Pallotta.
But some of the evidence is somewhat incriminating for the individuals involved.Raj apparently spoke to Quint Slattery of the hedge fund Symmetry Peak Capital on instant messenger and told him something about seeing ahead of earnings at Computer Associates.
So far, nothing about Slattery has come up in the trial.
We’re covering the trial until the bitter end and we’ll keep you posted.