Galleon's Rajaratnam damns wiretap evidence

NEW YORK: Galleon hedge fund founder Raj Rajaratnam, accused of fraud and conspiracy in a complex insider trading case, attacked the US government's wiretap evidence, as he won approval to stay free on bail.

Rajaratnam's lawyer John Dowd told a judge New York that he would file a motion to suppress telephone recordings used to arrest his client last October and more than a dozen other people in what prosecutors have called the biggest hedge fund insider trading case to ever take place in the United States.

"The recordings were cherry picked and mismanaged and someone did not do their homework," Dowd told US District Court Judge Richard Holwell at a bail hearing, with Rajaratnam by his side.