THE BILLIONAIRE Who Took The Fall For Wall Street | Raj Rajaratnam • 87

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(***TIMESTAMPS in description below***) Raj Rajaratnam is an investor, author, and former hedge fund manager. He was the founder of the Galleon Group, a New York-based hedge fund management firm.

By 2009, Rajaratnam was the 236th richest American and managed $7 Billion at Galleon. However, on October 16th of that year, he was arrested by the FBI for insider trading, which also caused the Galleon Group to fold. In 2011, he stood trial in the United States District Court for the Southern District of New York and was found guilty on 14 counts of conspiracy and securities fraud. Raj received the longest insider trading sentence in American History (11 years) and was fined a criminal and civil penalty of over $150 million combined.

He recently published a book called, “Uneven Justice,” where he tells his story and discusses the prosecutorial misconduct in his trial. He recently appeared on CNBC (with Andrew Ross Sorkin) and on Glenn Greenwald's Podcast to discuss the book.

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**TIMESTAMPS**

0:00 - Intro; Galleon’s Morning Meetings; The Media falsely painted the Raj Rajaratnam as “The Financial Crisis Case”; Raj explains the 2008 Financial Crisis basics; Southern District of New York Prosecutor Preet Bharara’s crusade against hedge funds; Raj net lost ~ $4 Million on the trades he was accused of (in his insider trading case); The Prosecutorial media blitz; Raj talks “greed”; The problems with the Grand Jury system

23:20 - Raj recounts the day he was arrested in October 2009; Prosecutorial misconduct and the gamification problem in criminal court; The moment Raj went into “war mode”; They asked Raj to become a cooperating witness immediately; Raj answered the FBI’s questions for hours without a lawyer; Raj talks Preet Bharara and how his case made Preet the Sheriff of Wall Street; Raj wasn’t the final target –– Steve Cohen was; The Government never collected Galleon’s paperwork

45:48 - Raj explains why he is speaking out after all these years; What Rajat Gupta said to Raj when he arrived at the same prison; The type of person who often becomes a prosecutor; The Bitcoin legislation that an NYC Legislator cashed in on; Raj reacts to the Insider Trading going on in both Congress and the Senate in Washington DC

1:07:51 - The Ross Ulbricht Case (also prosecuted by Preet Bharara); Raj was the first White Collar Wiretaps Case; The Franks Hearing that should have suppressed the wiretaps; the government lied in the Title III Wiretaps application and the judge acknowledged it

1:29:18 - GOVERNMENT WITNESS 1: Roomy Khan (The Full Story); The meaning of the word “Edge”; Discussing The Showtime Wall Street Show, Billions; Goldman CEO Lloyd Blankfein’s testimony at Raj’s trial; RICO Law Creator and Title III Creator, G Robert Blakey’s Amicus Brief that told the court the wiretaps needed to be suppressed

1:51:20 - Raj talks about why he respects Danielle Chiesi (DEFENDANT 1) and considers her “a gangster”; GOVERNMENT WITNESS 2: Ali Far (The Full Story); The EBay Trade story; GOVERNMENT WITNESS 3: Adam Smith (The Full Story); The difficulty of presenting financial minutiae to a jury; GOVERNMENT WITNESS 4: Rajiv Goel (The Full Story)

2:19:33 - GOVERNMENT WITNESS 5 (The “Star” Witness): Anil Kumar (The Full Story); McKinsey, Payments, and Pecos Trading; The Manju Das Tax Shelter; The Preet Bharara India Diplomat Cavity Search Play

2:37:18 - DEFENDANT 2: Ex-McKinsey CEO / Goldman Sachs Board Member, Rajat Gupta (The Full Story); Kumar gave the opposite testimony in Raj’s brother Rengan’s Insider Trading Trial (he was found not guilty); Raj’s funds with Gupta and Kumar; Raj tells the story behind the 2 Phone Calls with Gupta from the cases against them

3:01:45 - The rivalry between Gupta and Raj?; Why Raj loved what he did; The Preet Bharara Insider Trading Reform Task Force?; Why did Raj lose the mustache? The problem with Perp Walks

3:20:47 - Julian asks Raj about the financial arrangements with Kumar in the investment funds they co-founded; The opening paragraph of Raj’s chapter on Kumar; Raj’s charity work with the Harlem Children’s Zone

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