Lawyers for Rajat Gupta, the former Goldman Sachs Group Inc. director accused at trial of passing inside tips, said they have “compelling” evidence that bank executive David Loeb shared inside information with Galleon Group LLC co-founder Raj Rajaratnam.
Rajat Gupta, the former Goldman Sachs Group Inc. director accused of insider trading, lost a bid to have a jury hear wiretaps of Goldman Sachs executive David Loeb tipping Galleon Group LLC co-founder Raj Rajaratnam.
David Loeb, Goldman Sachs Group Inc.’s head of Asia equity sales in New York, passed information to Raj Rajaratnam about Apple Inc., Intel Corp. and Hewlett- Packard Co., Assistant U.S. Attorney Reed Brodsky said.
A prosecutor in the insider-trading trial of Rajat Gupta used his questioning of a defense witness to attack the ex-Goldman Sachs Group Inc. director’s claim that another bank executive was the source of illegal tips.
A U.S. investigation of possible insider-trading by Goldman Sachs Group Inc. employees expanded to include a managing director whose name emerged at the trial of convicted hedge fund manager Raj Rajaratnam, a person with knowledge of the probe said.
Former Goldman Sachs Group Inc. director Rajat Gupta rested his defense to federal insider- trading charges without testifying or being allowed to play wiretapped recordings that his lawyer called “crucial” to his case.