Former Intel executive pleads guilty in Galleon scandal

[cory777]

Source: xinhua news

English.news.cn 2010-02-09 08:17:56

NEW YORK, Feb. 8 (Xinhua) -- Former chief executive of Intel Corp. Rajiv Goel pleaded guilty on Monday afternoon to two information charges related to the largest hedge fund insider trading case in history.

Goel, 51 years old, admitted to U.S. Federal Judge Alvin Hellerstein that he had passed confidential corporate information to Galleon's founder Raj Rajaratnam.

According to court document, throughout 2007, Goel provided Rajaratnam with details of Intel's quarterly earnings before they were publicly released.

In addition, in early 2008, Goel obtained inside information from a colleague at Intel regarding Intel's plans to invest in a joint venture involving Clearwire Corp. He passed the information to Rajaratnam who, in turn, caused Galleon Tech and Diversified to purchase Clearwire common stocks.

Read more: http://news.xinhuanet.com/english2010/world/2010-02/09/c_13168950.htm

[formercia]

1. Why do we have to learn of this from the Chinese?

Jus askin'.

[earcandle]

2. asking questions is a move in the right direction. Thanks for asking. I wouldn't have noticed.

[WhiteTara]

3. US fired all the news reporters? n/t

[formercia]

4. Fired all the good ones and replaced them with talking heads.

Control the Money
Control the Congress
Control the Media

Make your own Reality.