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Insider Trading

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  • Goldman Sachs CEO Lloyd Blankfein

    Federal prosecutors say they do plan to call Goldman Sachs Chairman Lloyd Blankfein as a witness in the insider trading trial of Raj Rajaratnam, according to a letter sent to the judge in the case.

  • Raj Rajaratnam

    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.

  • McKinsey Should Investigate Gupta Friday, 18 Mar 2011 | 12:30 PM ET
    Rajat Gupta

    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.

  • Did Raj Rajaratnam Cross the Line to Get an Edge? Thursday, 17 Mar 2011 | 4:23 PM ET
    Raj Rajaratnam

    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.

  • Raj Rajaratnam co-founder of the Galleon Group hedge fund.

    There are two different ways the jury can take Anil Kumar's testimony, which finished yesterday.

  • Did The Galleon Tapes Just Clear Rajat Gupta? Thursday, 17 Mar 2011 | 8:50 AM ET
    Rajat Gupta

    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.

  • Caught on Tape     Wednesday, 16 Mar 2011 | 9:39 AM ET

    Former Goldman Sachs board member shares secret information in a recorded call, with CNBC's Scott Cohn.

  • Raj Tapes Revealed     Wednesday, 16 Mar 2011 | 7:47 AM ET

    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.

  • Goldman Mulled Buying Wachovia, AIG: Audio Tape Tuesday, 15 Mar 2011 | 9:38 PM ET
    Rajat Gupta

    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 AIG In 2008 Tuesday, 15 Mar 2011 | 1:08 PM ET
    Rajat Gupta

    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.

  • Raj Rajaratnam co-founder of the Galleon Group hedge fund.

    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.

  • Rajat Gupta

    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.

  • Figure in Insider Case Sought to Quit Goldman Monday, 14 Mar 2011 | 7:34 AM ET
    Rajat Gupta

    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.

  • Rajat Gupta

    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.

  • Is There a Culture of Corruption at McKinsey? Thursday, 10 Mar 2011 | 4:08 PM ET
    Rajat Gupta

    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?

  • Raj Rajaratnam co-founder of the Galleon Group hedge fund.

    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.

  • SEC Chairwoman Under Fire Over Ethics Issues Wednesday, 9 Mar 2011 | 8:02 AM ET
    Mary L. Shapiro

    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.

  • Six Reasons Why Raj Rajaratnam Could Be Going Down Tuesday, 8 Mar 2011 | 3:42 PM ET
    Raj Rajaratnam

    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.

  • Rajat Gupta: Caught on Tape Tuesday, 8 Mar 2011 | 2:26 PM ET
    Rajat Gupta

    It’s almost certain that the government recorded conversations between Rajat Gupta and Raj Rajaratnam.

  • Rajat Gupta

    Accused insider trader Rajat Gupta resigned yesterday from the boards of directors of AMR Corporation and its subsidiary, American Airlines, Inc.

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