Gary Naftalis, lawyer for accused insider trader, Rajat Gupta has asked a federal judge to bar prosecutors from playing secretly recorded phone conversations with hedge-fund manager, Raj Rajaratnam, he allegedly tipped at his trial.   In court papers late Tuesday, Mr. Gupta's lawyers, much like Mr. Rajaratnam's lawyers did previously, argued that the wiretaps were improperly obtained by prosecutors. In part, Mr. Gupta's lawyers argued that federal law doesn't allow wiretaps to be used "in investigations of suspected insider trading" and that the government failed to provide a full and complete statement on the status of the investigation before obtaining authorization to conduct wiretaps. Federal prosecutors in Manhattan have alleged that Mr. Gupta, a former Goldman Sachs director shared inside information with Mr. Rajaratnam, the founder of Galleon Group, while Mr. Gupta was on the boards at Goldman and P&G, including an investment by Warren Buffett's Berkshire Hathaway Inc. in Goldman at the height of the financial crisis. Mr. Gupta has denied wrongdoing. Mr. Rajaratnam, 54 years old, was sentenced to 11 years in prison in October, the longest-ever term imposed in an insider-trading case. Mr. Rajaratnam is expected to appeal in his conviction last year of conspiracy and securities fraud. In part, he is expected to argue a federal judge erred in allowing the wiretaps into evidence in his trial last year. A spokeswoman for the U.S. Attorney's office in Manhattan declined comment.[wsj 1/4/12]