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US trial of ex-Goldman board member begins
A FORMER Goldman Sachs Group board member “threw away his duties” in divulging secrets about the investment bank to now-imprisoned hedge fund manager Raj Rajaratnam, a US prosecutor said at the start of a major insider-trading trial yesterday.
Rajat Gupta, once a boldface name in business and charity circles, is the most prominent corporate executive charged in the US government’s crackdown on insider trading.
He has denied the charges, and his lawyer says that prosecutors have no direct evidence to win a conviction. The case is USA v. Gupta, US District Court for the Southern District of New York, No. 11-907.