Federal prosecutors have recordings of a Goldman Sachs executive leaking confidential information about technology stocks to Raj Rajaratnam, the former hedge fund billionaire convicted of insider trading, a lawyer disclosed Friday during a court hearing.
The evidence emerged during a pretrial hearing at Federal District Court in Manhattan in the case of Rajat K. Gupta, a former board member at Goldman who is facing charges that he leaked secret boardroom discussions about the bank to Mr. Rajaratnam, who is serving an 11-year-prison term.
Gary P. Naftalis, a lawyer for Mr. Gupta, said during the hearing that the government has secretly recorded telephone conversations of a Goldman executive tipping off Mr. Rajaratnam to confidential information about Intel and Apple. “The wrong man is on trial,” Mr. Naftalis said. Believe it or not.....
Don't stop now. Check out http://dealbook.nytimes.com/2012/03/16/goldman-employee-was-source-of-insider-tips-guptas-lawyer-says/?src=recg
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