Billionaire Retains Prominent Washington Lawyer

A billionaire hedge fund manager charged in a $25 million insider trading case has hired a veteran Washington lawyer.

Jim Walden, who represented 52-year-old Raj Rajaratnam (RAHJ rah-juh-RUHT'-nuhm) in his initial court appearance, said Monday that attorney John Dowd will now represent the portfolio manager. Dowd did not immediately respond to a message seeking comment.

Rajaratnam was charged with conspiracy earlier this month in federal court by authorities who said he and five others made more than $25 million by trading securities based on secret information.

Dowd has represented a federal judge, a former federal prosecutor and two U.S. senators. But he may be best known for his investigation of Pete Rose's baseball gambling.

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