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, NY Times' Dealbook writes.
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.
For more check out http://dealbook.nytimes.com/2012/03/16/goldman-employee-was-source-of-insider-tips-guptas-lawyer-says/
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