Raj Rajaratnam made $63.8 million from tips

 Federal Bureau of Investigation (FBI) special agent, James Barnacle Jr., told a Manhattan court that Galleon-group co-founder Rajaratnam, 53, made, or avoided losses of, $63.8 million, much more than the $45 million alleged in the indictment.

Following the testimony of Barnacle, the last prosecution witness, US District Judge Richard Holwell dismissed the jury until April 11. Barring a dismissal by the judge, the defence will present its case next.

In cross-examining prosecution witnesses, Sri Lankan-born Rajaratnam’s lawyers attempted to show that their client traded on a “mosaic” of publicly available information, not insider tips.

Since March 8 when the trial began, prosecutors have presented witnesses and wiretapped recordings showing that Rajaratnam had at least 10 sources of inside information throughout Wall Street and the US business community.

Witnesses testified that Rajaratnam got leaks originating with a Goldman Sachs Group board member, a consultant at McKinsey & Co., executives of other public companies and several traders.