|
Gupta is accused of passing secret information from Goldman board meetings to Galleon founder Raj Rajaratnam. By disclosing the probe of Korenberg, the prosecutors gave Gupta's lawyers an avenue to argue that Galleon had multiple sources at Goldman for inside information. That might make it harder to pin the wrongdoing on Gupta. Gupta's lawyer, Gary P. Naftalis, declined to comment through a spokeswoman. Prosecutors also declined to comment. Gupta's defense team was notified separately several weeks ago that a Goldman Sachs executive was giving inside information to Rajaratnam about Apple Inc. and Intel Corp. Rajaratnam is serving an 11-year prison sentence, the longest ever handed out in an insider trading case. A jury found him guilty on charges that he made more than $70 million illegally by using information gleaned from a network of informants at public companies and fellow hedge fund traders. Gupta, who also served on the board of Procter & Gamble Co., is scheduled to go on trial May 21. He is free on $10 million bail. In all, more than two dozen people were charged in the Rajaratnam probe. All except Gupta have pleaded guilty or been convicted at trial.
[Associated
Press;
Associated Press writer Greg Risling in Los Angeles contributed to this report.
Daniel Wagner can be reached at http://twitter.com/wagnerreports.
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor