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March 11, 2016

WSJ: U.S. Attorney Bharara May Answer for ‘Abuses of his Prosecutorial Power’

“Wall Street holy warrior Preet Bharara (the U.S. Attorney for the Southern District of New York) may finally answer for abuses of his prosecutorial power,” writes the Wall Street Journal editorial board.

A federal district court ruled yesterday that a lawsuit alleging Bharara “violated the civil and constitutional rights of former hedge-fund manager David Ganek” can proceed to discovery and trial. Ganek was forced to liquidate his fund after the FBI raided his office in 2010 on allegations of insider trading. 

The Second Circuit Court of Appeals, however, overturned Ganek’s conviction, finding “no evidence” of fraud. Ganek’s lawsuit accuses Bharara of depriving him his due process.

“Mr. Bharara’s media image is the Elliot Ness of Wall Street,” concludes the editorial. “Now we may learn if he has his own house in order.”

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