Billionaire Galleon Group hedge fund cofounder Raj Rajaratnam enters a Manhattan Federal Court on the second day of the defense phase of his trial for insider trading on April 12, 2011 in New York City. Prosecutors allege that Rajaratnam pocketed $45 million by illegally trading on insider stock tips. While Rajaratnam's lawyers contend that he made legal trades using public information, prosecutors have called it the largest-ever hedge fund insider trading case. 