The New York Times reports that the request, which was granted, was the first time the government had asked for a wiretap to investigate insider trading. Federal agents eavesdropped on Rajaratnam for nine months, leading to his indictment - along with charges against 22 others - and the biggest insider trading case in a generation.
On Thursday, lawyers for Rajaratnam, who is serving an 11-year prison term after being found guilty at trial, will ask a federal appeals court to reverse his conviction. They contend that the government improperly obtained a wiretap in violation of Mr. Rajaratnam’s constitutional privacy rights and federal laws governing electronic surveillance.
Hit the link below to access the complete New York Times article: