NEW YORK (Grant McCool) - Hedge fund manager Raj Rajaratnam hopes a "Superman" will be able to help him win over the jury at his insider trading trial.
The judge ruled on Tuesday that American social activist and educator Geoffrey Canada, who appeared in the award-winning 2010 documentary film "Waiting for 'Superman'" can attest to Rajaratnam's character.
His Harlem Children's Zone in New York has benefited from the Galleon Group founder's philanthropy and board service. Canada, along with other nationally-known figures such as Microsoft founder Bill Gates, appeared in the film that won a best documentary award at the 2010 Sundance Film Festival."I will allow the character witness because the government itself has raised the issue of alleged greed by the defendant," U.S. District Judge Richard Holwell said before the jury came into the courtroom on the second day of the defense's case.
In what federal prosecutors have described as the biggest probe of insider trading at hedge funds, Rajaratnam is charged with conspiracy and securities fraud in a case in which 19 out of 26 defendants have pleaded guilty.
Prosecutors contend Sri Lankan-born Rajaratnam made an illicit $63.8 million. If convicted, the 53-year-old hedge fund manager could be sentenced to up to 20 years in prison.
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