Photo: Kim Scarborough via Flickr
Rick Schutte of Spottail Investments testified for the defence today at the Raj trial but in the end, his testimony might have helped the prosecution instead.Emphasis on *might.*
During their cross examination, the prosecuting attorney asked Scutte if Raj invested $25 million with him and if he had earned management fees on that investment.
Schutte said yes, he had.
This isn’t immediately important — Raj is a billionaire, he has to put his money somewhere — but it is kind of strange, we guess, that he invested $15 million with Schutte merely a month before the trial began, according to his testimony.
The main thing that looks bad is that the prosecutors unveiled the detail, and not the defence. Obviously, the defence should have covered its bases and brought this up in their questioning before the prosecutors had the chance to do so.
The defence’s PR guy, Jim McCarthy, says this is why the defence team didn’t mention it:
“We were well aware and regard those facts as totally routine and ordinary.”