NEW YORK,
March 27 (Xinhua) -- A New York federal judge ruled on Tuesday that prosecutors
can play secretly wiretapped telephone conversations in the upcoming criminal
insider-trading trial of former Goldman Sachs director Rajat Gupta.
U.S.
District Judge Jed Rakoff in Manhattan issued his ruling that the government could
use wiretapped conversations at Gupta's trial, saying that "insider
trading cannot often be detected, let along successfully prosecuted, without
the aid of wiretaps."
Gupta, who
is charged with leaking Goldman's boardroom secrets to his friend, the convicted
hedge fund manager Raj Rajaratnam, had argued that federal law doesn't allow
wiretaps to be used in insider-trading probes and the secretly recorded calls
were improperly obtained by prosecutors.
The judge
also ordered the Securities and Exchange Commission to release notes on 44
witness interviews regarding Gupta's case.
Gupta is
the most prominent corporate executive charged in the U.S. government's
sweeping investigation of illicit trading on Wall Street. His criminal trial is
set for May 21. He has pleaded not guilty.
Related Articles:
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The SEC says that information from Mr Gupta helped
convicted trader Rajaratnam make millions of dollars (BBC)
|
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