Goldman staffer leaked Apple, Intel secrets, says lawyer in heated exchange with U.S. prosecutor

“A person at Goldman Sachs Group Inc, who has not been identified or charged in a broad U.S. insider-trading probe, was caught on a wiretap leaking secrets about Intel Corp and Apple Inc, a lawyer for accused former Goldman board member Rajat Gupta said in court on Friday,” Grant McCool reports for Reuters.

“Lawyer Gary Naftalis, in a heated exchange with U.S. prosecutor Reed Brodsky during a pre-trial hearing, said the Goldman person leaked confidential information about the two companies to Raj Rajaratnam, the Galleon Group hedge fund founder convicted of insider-trading charges last year,” McCool reports. “Gupta, the best-known corporate executive accused in a sweeping prosecution of insider-trading at hedge funds in recent years, denies criminal charges that he tipped Rajaratnam with Goldman Sachs and Procter & Gamble Co secrets between 2007 and 2009. His trial is scheduled to begin in May.”

McCool reports, “‘In a letter he (Brodsky) said the government had a person who provided confidential information to Raj Rajaratnam about Apple and Intel,’ Naftalis said. ‘There is also wiretap evidence, substantial evidence of another source at Goldman Sachs.’ Naftalis told U.S. District Judge Jed Rakoff the defense believed ‘there is a much more circumstantial case that person should be sitting in the box rather than us.'”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Edward Weber” for the heads up.]

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