At Raj Rajaratnam’s insider-trading trial one year ago, Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein told jurors he makes unscheduled calls to the bank’s board members at times of market “uncertainty.”
If the attendees at the World Economic Forum in Davos, Switzerland, this week are the story of people who lead in politics and business or aspire to, the names of those not making the trip tell a different tale.
Rajat Gupta, who reached the pinnacle of corporate America as managing partner of McKinsey & Co. and director at Goldman Sachs Group Inc. and Procter & Gamble Co., was convicted by a federal jury of leaking inside information to hedge-fund manager Raj Rajaratnam.
Greg Palm , Goldman Sachs Group Inc. general counsel, took a call in his 37th-floor office at One New York Plaza on Dec. 16, 2008. It was his old boss, Stephen Friedman , a former Goldman chairman who was then head of the audit committee of its board of directors. Goldman’s stock was down 65 percent from its 52-week high during an accelerating global financial breakdown.
Rajat Gupta , the former Goldman Sachs Group Inc. director accused of passing tips to Galleon Group LLC co-founder Raj Rajaratnam, will remain silent as his insider-trading trial enters its final week, his lawyer told the judge.
Rajat Gupta, the former Goldman Sachs Group Inc. director, will probably testify next week at his insider-trading trial, his lawyer told the judge after the prosecution rested and the defense began presenting its case.
U.S. prosecutors rested their insider-trading case against former Goldman Sachs Group Inc. director Rajat Gupta shortly after the company’s chief executive officer, Lloyd Blankfein, completed his testimony.
Rajat Gupta, who was a director at Goldman Sachs Group Inc., “threw away his duties” to the company when he tipped hedge-fund co-founder Raj Rajaratnam to news that the bank would get a $5 billion investment, a prosecutor told jurors.