Raj Rajaratnam Wants to Testify at His Insider-Trading Trial


Billionaire Galleon founder Raj Rajaratnam says he intends to testify when his insider-trading trial starts in New York federal court tomorrow. Taking the witness stand is rare in white-collar criminal cases — and didn’t end so well for WorldCom founder Bernard Ebbers or former Enron President Jeffrey Skilling, who both know the feel of a prison jumpsuit. The final decision rests with just how bad Rajaratnam sounds on the hundreds of hours of wiretaps in evidence. Considering his history of explaining away alleged insider trades as innocent conversations about the Yankees and cricket, the jury is likely to hear some interesting sports trivia in the coming weeks. [WSJ]