He Knew Tomorrow's Headlines Today, But Didn't Know The FBI Was Listening

The Man Who Knew Too Much

The Raj Rajaratnam insider trading trial is now well underway in New York.

The jury of 18 - there are 6 alternates - is made up of 10 women and 8 men.

It is the biggest insider trading trial since Ivan Boesky and Michael Milken were in the dock in the 1980s.

US federal prosecutor Jonathan Streeter set the scene Wednesday, when he previewed the evidence:

'Greed and corruption - that's what this case is all about'.

'He (Rajaratnam) knew tomorrow's business news headlines today, and traded on it. One crucial thing he didn't know - he didn't know the FBI was listening in'.

And on Thursday, Anil Kumar, a former McKinsey partner, told how he felt obliged to provide Rajaratnam with information after accepting $500,000-a-year in consulting fees.

'Mr Rajaratnam kept asking me for that information', he alleged, 'And I felt I owed him something given how much money he was paying me'.

Sources - The Financial Times, The New York Post, The New York Times

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News