On Tuesday, U.S. District Judge Jed S. Rakoff ordered Raj Rajaratnam and other defendants in the Galleon Group insider trading case to turn over wiretaps to the SEC. According to DealBook, Judge Rakoff ruled that the defendants failed to cite any statutory authority for restricting the SEC’s access to the wiretaps.
DealBook reports that the defendants must produce the wiretaps to the SEC by Monday. The defendants plan to argue in the criminal case that the wiretaps were obtained illegally in a motion to suppress the evidence. Judge Rakoff ruled that the evidence will be subject to a protective order until the motion to suppress is ruled on.
