Tuesday, 30 August 2016
Last updated 7 hours ago
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.