Opposing portrayals of a former trader at SAC emerged during opening statements at his criminal insider trading trial in Federal District Court.» Read More
On Day 9 of the Raj Rajaratnam insider trading trial, the wiretaps were pulled out again after a day and half of straight testimony from Intel, PeopleSupport and Moody's executives.
I'm not sure if prosecutors are doing an effective job of proving the case against Raj Rajaratnam. But they certainly have proved that Rajat Gupta was a bad seed.
After one week of testimony in the insider trading trial of Galleon Group co-founder Raj Rajaratnam, one thing is clearer than ever: In the brutally competitive world of hedge funds, information is everything. A jury will ultimately decide whether the information Rajaratnam got—and made millions trading with—was illegal inside information. But there is no disputing that he went to great lengths to get it.
There are two different ways the jury can take Anil Kumar's testimony, which finished yesterday.
A wiretapped telephone conversation played earlier this week during the trial of Galleon founder Raj Rajaratnam reveals then-Goldman Sachs director Rajat Gupta disclosing confidential board information to Rajaratnam in 2008.
Former Goldman Sachs board member shares secret information in a recorded call, with CNBC's Scott Cohn.
A recorded telephone call between accused inside trader Rajaratnam and former Goldman Sachs director Rajat Gupta is a key piece of evidence in this high profile case, reports CNBC's Scott Cohn.
A taped conversation played for jurors in the criminal insider trading trial of hedge fund manager Raj Rajaratnam Tuesday indicated the Goldman Sachs board had a "divided" discussion in the summer of 2008 about trying to buy a commercial bank such as Wachovia.
Goldman Sachs considered buying troubled insurer AIG in 2008, according to wire-tapped phone conversations played on Tuesday at the insider trading trial of Raj Rajaratnam.
As previously discussed, one of the bigger revelations that could cause issues for Raj Rajaratnam is that his “business associate and friend,” Rajat Gupta, passed him inside information obtained from Gupta’s post as a board member of Goldman Sachs, which the Galleon founder proceeded to (allegedly!) trade on.
Despite pressure from federal prosecutors overseeing the case against Raj Rajaratnam, the Securities and Exchange Commission pushed ahead with its insider trading case against Rajat Gupta because of his status as a sitting board member on public companies.
Rajat K. Gupta, the former Goldman Sachs director accused by the government of passing insider information about the Wall Street firm, had tried to resign from the Goldman board in the middle of the 2008 financial crisis, only weeks before he is said to have provided the tips to the hedge fund manager Raj Rajaratnam, the New York Times reports.
The insider trading allegations against former McKinsey & Co. chief Rajat Gupta led to a bitter dispute between federal prosecutors and securities regulators, according to people familiar with the matter.
The revelation that there may have been a “third man” at McKinsey with connections to the alleged insider trading schemes of Galleon founder Raj Rajaratnam casts a shadow across the reputation of the famous consulting firm. How deep does the corruption run?
At least as noteworthy as what attorneys did say in two-and-a-half hours of opening statements in the Raj Rajaratnam insider trading trial is what they did not say.
Mary Schapiro is facing Congressional questioning about a former general counsel who weighed in on the Bernard L. Madoff case even though he had a financial interest in it, the New York Times reports.
In Wall Street terms, the trial of Raj Rajaratnam is like Wyatt Earp and Doc Holliday against Johnny Ringo and the Clanton Gang, staging what could be the final showdown at the financial markets’ version of Tombstone.
It’s almost certain that the government recorded conversations between Rajat Gupta and Raj Rajaratnam.
Accused insider trader Rajat Gupta resigned yesterday from the boards of directors of AMR Corporation and its subsidiary, American Airlines, Inc.
Rajat Gupta has sent an email to dean of the Dean of the Hyderabad-based Indian School of Business, which he co-founded, describing his relationship with Raj Rajaratnam as "strained," according to the Time of India.