As the insider trading trial of Galleon Group captivated much of the wall street with suspense,it becomes clear that Raj Rajaratnam will face the jail term in the coming days.The taped conversation that can spoil all the hard work done by Mr.Rajaratnam's lawyer going to be a decisive factor.
Mr.John Dowd,a lawyer for Mr.Rajaratnam would find it difficult in his bid to keep his billionaire client out of prison.This case is different from the trials of John Rigas or David .L.Sokol,who the prosecutor says that he brought nearly 100,000 shares of Lubrizol on illegal tips.
In those trial,there were no recorded call tapes as well as those documents presented by the two sides didn't match correctly ! But things are quite different in Rajaratnam's trial.He will face the jail sentence,at least for a ten to twenty years.
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