NY Rajaratnam jury ends 2nd week with no verdict

AP News
|
Posted: May 06, 2011 6:18 PM
NY Rajaratnam jury ends 2nd week with no verdict

A New York jury has quietly finished its second week without a verdict in the trial of a one-time billionaire hedge fund founder accused of using inside information to make tens of millions of dollars illegally.

The jury sent no notes to the judge Friday as it weighed evidence against Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm). The day marked the return to court of the defendant. The founder of the Galleon Group of hedge funds had missed four days of jury deliberations after undergoing emergency foot surgery on Sunday.

Prosecutors say Rajaratnam used a network of friends and old college buddies to cheat on Wall Street. His lawyers say he only traded based on public information. The replacement of a juror two days ago forced the jury to restart its work.