Hedge fund operator Rajaratnam pleads not guilty
National News
Wealthy hedge fund operator Raj Rajaratnam and a codefendant pleaded not guilty Monday to charges they were major players in a scheme that used inside information to make stock trades that generated millions of dollars in profits.
Prosecutors, who have described the case as a "wake up call for Wall Street," promised to hand over to defense attorneys 100 hours of intercepted phone calls made over eight months that they say implicate the defendants.
Rajaratnam and Danielle Chiesi entered their pleas before U.S. District Judge Richard Holwell in Manhattan to an indictment returned last week in a $52 million insider trading case that has resulted in charges against 21 people.
Assistant U.S. Attorney Josh Klein asked Holwell to set a trial date in June or July but defense lawyers balked, saying it would take months to review the audio tapes of telephone conversations between the defendants.
Holwell declined to set a trial date but said he may eventually agree with prosecutors and schedule a summer trial. Klein also said evidence against the defendants includes post-arrest statements.
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What Is Meant by ‘No-Fault’ Workers’ Compensation in Illinois?
If you were injured in a work-related accident and have been researching workers’ compensation, you may have seen it described as a “no-fault” system. One of the most important things to understand about the workers’ compensation system in Illinois is that it is based on a “no-fault” system. What does this mean, exactly?
Most employers in Illinois are required by law to have workers’ compensation insurance. And the workers' compensation in Illinois is a “no-fault” system, which means that any worker who has been hurt on the job is entitled to workers' compensation benefits. If you have been hurt on the job, you are entitled to workers’ compensation benefits no matter whose fault the accident was.
A no-fault insurance system, such as workers’ comp, works by paying claims regardless of who is to blame for an accident. This provides an important layer of protection for injured workers, sparing them from having to through additional litigation and the through the additional burden of proving who was at fault before receiving benefits.
In Illinois, even though you don’t have to prove that your injury was your employer’s fault, you do have to prove that your injury happened at work or as a result of work. If you would like help to file your workers' compensation claim, Krol, Bongiorno, & Given’s experienced workers' comp lawyers are here to help. With over 60 years of combined legal experience, the KBG law firm is a leader in the field of workers’ compensation law and we have earned the reputation as aggressive advocates for injured workers before the IWCC.