Rajat Gupta, who was a director at Goldman Sachs Group Inc.
(GS), “threw away his duties” to the company when he tipped hedge-fund
co-founder Raj Rajaratnam to news that the bank would get a $5 billion investment,
a prosecutor told jurors, Bloomberg reports.
At the start of Gupta’s insider-trading trial, Assistant
U.S. Attorney Reed Brodsky told jurors that Gupta broke the law when,
immediately after a Goldman Sachs board meeting on Sept. 23, 2008, he informed
Rajaratnam that Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) would invest
$5 billion in the firm. Rajaratnam, Gupta’s friend and co-founder of Galleon
Group LLC, traded on the tip, Brodsky said….
No comments:
Post a Comment