Former McKinsey & Co. chief Rajat Gupta's lawyers
hammered away at the credibility of prosecution witnesses yesterday at their
client's trial on insider-trading charges, according to finaltneratives.
In a combative cross-examination of former Galleon Group
trader Michael Cardillo—which featured as much sparring with prosecutors as it
did with the witness—lead Gupta lawyer Gary Naftalis sought to show that
Galleon was full of liars and exaggerators, people who puffed up their contacts
and their alleged inside information. Cardillo has pleaded guilty to
insider-trading and is cooperating with prosecutors, and Galleon founder Raj
Rajaratnam, a longtime friend and business partner of Gupta's, was convicted
and sentenced to 11 years in prison.
Gupta is charged with passing confidential tips about two
companies he served as a director, Goldman Sachs and Procter & Gamble, to
Rajaratnam….
More? Check out http://www.finalternatives.com/node/20632
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