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Rajaratnam’s trial gets underway in New York

Mar 9, 2011 6:14:11 AM - itnnews.lk

Sri Lanka-born billionaire and Galleon Group founder Raj Rajaratnam, the main accused in one of the largest insider trading cases in the US which also involves several Indian-origin suspects, went on trial and could face more than 20 years in prison if convicted.

The embattled billionaire has reportedly run up a legal bill of 40 million us Dollars. Jury selection will be followed by opening statements from both sides. A packed courthouse in Manhattan began the trial with the US District Judge, Richard Holwell, disclosing a 15-page questionnaire, prepared to determine whether the juror had any prejudices that would prevent the person from taking an impartial view of the facts to be presented in the case.