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Rajaratnam also earned close to $1 million when Gupta told him that Goldman had received an offer from Warren Buffett's Berkshire Hathaway to invest $5 billion in the banking giant, prosecutors said. Also played at trial was the tape of Rajaratnam grilling Gupta about whether the Goldman Sachs board had discussed acquiring Wachovia or an insurance company. "Have you heard anything along that line?" Rajaratnam asked Gupta. "Yeah," Gupta responded. "This was a big discussion at the board meeting." Prosecutors sought to maximize the impact of the Gupta tape by calling Goldman Sachs chairman Lloyd Blankfein to testify that the phone call violated the investment bank's confidentiality policies. Prosecutors say Blankfein will return to the stand at Gupta's trial. At a recent hearing, Gupta's lawyers argued that the jury would need to hear more about their client's life story to give the allegations context. "He's done all these wonderful things. And they would say that one day out of a clear blue sky in the seventh decade of his life, he decides to become a criminal," said attorney Gary Naftalis. The judge ruled that Gupta's charitable works could be referenced, but only if he testified. Naftalis refused to divulge whether he will. Gupta's reputation for giving wasn't lost on Rajaratnam. Near the close of their recorded phone call, the crooked hedge fund manager remarked, "You've been spending a fair amount of time doing charity." "Yeah," was Gupta's only response.
[Associated
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