Rajiv Goel, a former Wharton classmate and friend of Raj
Rajaratnam who testified against the fund manager at his insider-trading trial,
is due to learn whether he’ll be imprisoned or spared like other cooperators,
Bloomberg told us.
U.S. District Judge Barbara Jones in Manhattan is scheduled
today to sentence Goel, 54, in a case that is part of the largest crackdown on
insider trading at hedge funds. The government and Goel’s lawyer described in
court filings his assistance in the prosecution of Rajaratnam, the Galleon
Group LLC co-founder who was convicted last year by a jury and is serving an
11-year prison term.
“Goel substantially
helped the government secure a conviction in one of the most significant and
high-profile insider-trading cases in U.S. history,” Assistant U.S. Attorney
Reed Brodsky said in a memo this month to Jones…
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