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Prosecutors Proving That Raj Rajaratnam Insider-Traded All Over Again

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Rengan Rajaratnam? As yet, not so much.

Prosecutors played jurors a series of wiretapped phone conversations between Raj Rajaratnam and Goel, who testified that he spoke frequently with the Galleon founder about a $1 billion investment Intel planned to make in 2008 in technology company Clearwire Corp.

"The whole investment was confidential," Goel said….

On cross-examination, Goel said he had never met Rengan Rajaratnam until a vacation in Italy arranged with Raj Rajaratnam following the deal.

“The only person you improperly shared confidential information with was Raj Rajaratnam?” Gitner asked.

“Yeah, that would be accurate,” Goel said.

“And you did not expect at that time that Raj was telling anyone that you shared confidential information with him?” Gitner asked.

“That is correct,” Goel said.

Jury in trial of Rajaratnam’s brother hears of insider’s tips [Reuters]
Rajaratnam Friend Says He Didn’t Expect Tips to Be Shared [Bloomberg]