NYT – Lawyers for Raj Rajaratnam, the billionaire hedge fund manager accused of insider trading, are again seeking to reduce his bail, citing errors in the government’s case against their client and his firm, the Galleon Group.

Mr. Rajaratnam’s lawyers requested the court reduce his current $100 million bail arrangement to $20 million in cash and other assets, according to a letter sent on Monday to the federal magistrate judge, Douglas F. Eaton. The lawyers reassured the court that Mr. Rajaratnam has complied with all conditions of his bail and continues to cooperate with requests from investigators.

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