Rajaratnam was arrested in October 2009 for illegal trade activities and making an amount of approximately $68 million through them. The federal prosecutors in New York have played around 50 recorded conversations of 53- year-old defendant and his fellow portfolio managers, analysts and executives at public companies.

However, the defense lawyer, John Dowd, during the closing arguments has notified the Manhattan federal jury that the tapes have nothing that can prove the allegations and the whole recording is merely a discussion about stock outlooks. Such conversations are very common for the business persons as they pay immense attention towards each and every piece of information on the securities they follow.

On the other hand, the prosecutors spoke in loud that the culprit, Rajaratnam, who was born in Sri Lanka, was strongly motivated by money and had a desire to hit the stock market at the expense of the law. Further, Rajaratnam suggested Chiesi to cover her tracks at the time of trade on secrets through fluctuating money in and out of the companies.