Rajaratnam Tipster Testifies At Brother’s Trial

Jun 25 2014 | 8:19am ET

A former friend of Galleon Group founder Raj Rajaratnam admitted yesterday that he hadn’t spoken with the convicted insider-trader’s brother until after Rengan Rajaratnam had allegedly conspired with his brother on the crime.

Rajiv Goel, a former Intel Corp. executive who testified against the elder Rajaratnam three years ago, told the jurors weighing Rengan’s fate that he had told Raj about Intel’s plan to invest $1 billion in Clearwire Corp. in 2008. He said that “the whole investment was confidential,” and that he didn’t expect Raj to pass the tip to anyone else.

Prosecutors say that he did, to his brother, among others. But Goel said he did not meet Rengan Rajaratnam until a vacation to Italy—organized by Raj—following the Intel deal.

“The only person you improperly shared confidential information with was Raj Rajaratnam?” Rengan’s lawyer, Daniel Gitner, asked.

“Yeah, that would be accurate,” Goel said.

“And you did not expect at that time that Raj was telling anyone that you shared confidential information with him?”

“That is correct,” Goel responded.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...