Schutte was asked by a defense lawyer, Michael Starr, whether he ever saw Rajaratnam ask for inside information at the dozens of conferences or company meetings they attended. It also said it wants to call an additional witness - Geoffrey Canada, head of Harlem Children’s Zone of Harlem, New York, which has apparently benefited from Rajaratnam’s philanthropy and board service. The defense said it has not decided whether Rajaratnam will testify. The jury could hear closing statements later this week. Rajaratnam, 53, is charged with conspiracy and securities fraud and could be sentenced to up to 20 years in prison if convicted. The case is part of what prosecutors call the biggest probe of insider trading at hedge funds on record. Speaking calmly in Manhattan federal court, he called Sri Lankan-born Rajaratnam “very professional” and “educated” about the issues facing companies covered by Galleon funds for its investors. Schutte, hired by Rajaratnam in June 2004 after spending 10 years at Goldman Sachs Group Inc GS.N as computer hardware and storage analyst, repeatedly used the word "discipline" to describe life at Galleon.
#The witness ship trial
One-time Galleon chief operating officer Rick Schutte took the witness stand at Rajaratnam’s insider trading trial on Monday as the defense presented its side of the case to New York jurors who have heard five weeks of prosecution evidence including FBI phone taps and witnesses.
NEW YORK, April 11 (Reuters) - Raj Rajaratnam demanded discipline at his Galleon hedge fund, fined late-comers to his morning meetings $25 and never asked any company for inside information, one of his former top lieutenants testified. * Jury hears about “volumes” of analysis, data at Galleon (Updates with Rajaratnam defense witnesses) * Ex-Galleon man testifies for one time boss Rajaratnam * Defense presents its side of big insider trading trial
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