Yesterday in a court filing, lawyers for Raj Rajaratnam made the case that it was unconstitutional for the SEC to wiretap the Galleon founder because they had already interviewed him during the course of investigating an "unrelated hedge fund." But actually, the WSJ tells us today, it was was related — literally. The fund under investigation, Sedna, was run by Raj's brother Rengan. It was closed in late 2007 because of losses and "the cost of complying with the SEC probe."
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