Monday, 30 March 2015
Last updated 2 days ago
May 1 2012 | 3:12am ET
Accused Raj Rajaratnam tipster Rajat Gupta's prosecutors want the jury in the case to hear the Galleon Group founder's voice—on tape.
The U.S. Attorney's Office in Manhattan yesterday indicated that they plan to play three wiretapped phone calls involving Rajaratnam, who was convicted of insider-trading last year and is now serving an 11-year prison sentence, at Gupta's trial. Gupta himself was on none of the three calls—prosecutors do not have tapes of the phone calls on which Gupta is accused of passing confidential information about Goldman Sachs and Procter & Gamble to Rajaratnam—but, they wrote in a pre-trial filing, "Rajaratnam's statements in the subsequent wiretapped calls with [Galleon trader Ian] Horowitz and [Galleon portfolio manager David] Lau provide indispensible evidence" that Gupta did, in fact, tip Rajaratnam.
Gupta's lawyers have until May 11 to respond. Gupta, a longtime friend of Rajaratnam's and former head of McKinsey & Co., served on the boards of Goldman and Procter, but his lawyers have argued that Galleon had other sources at Goldman who could have provided the information in question, including quarterly earnings and Berkshire Hathaway's 2008 investment in Goldman.
"Rajaratnam's statements in these three recorded conversations are essential evidence of the insider-trading charges against Gupta in this case," prosecutors wrote.
Gupta did not testify at Rajaratnam's trial, but his voice was heard by the jury on a recorded conversation. Goldman CEO Lloyd Blankfein, who is expected to testify at Gupta's trial, which begins on May 21, testified in the Rajaratnam trial that the information Gupta discussed with Rajaratnam was confidential.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…