Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein agreed to be a prosecution witness in Galleon Group LLC co-founder Raj Rajaratnam ’s insider trading trial next week, said a person briefed on the matter.
To U.S. prosecutors, former Goldman Sachs Group Inc. director Rajat Gupta is a Wall Street insider who fed secret tips to his business partner Raj Rajaratnam so the fund manager could reap millions in illicit profits.
Nasdaq Stock Market can rely on legal protections afforded exchange operators to avoid paying damages to firms that lost money on Facebook Inc., the former chief executive officer of the American Stock Exchange said.
U.S. prosecutors finished presenting their case against Raj Rajaratnam after presenting wiretaps and witness testimony in an effort to show his Galleon Group LLC hedge fund made millions of dollars through insider trading.
Last week, under questioning by a prosecutor, former McKinsey & Co. director Anil Kumar told jurors that he was pressured by Raj Rajaratnam to leak stock tips. This week, defense lawyers will try in cross-examination to depict Kumar as a “monstrous” liar.