Web Tightens Around Gupta In Galleon Trial

Law360, New York (March 30, 2011, 3:11 PM EDT) -- Raj Rajaratnam told an associate he was warned of Goldman Sachs Group Inc.'s quarterly loss by “somebody who's on the board,” an alleged reference to Rajat Gupta, according to a tape played Wednesday in the Galleon Group LLC founder's insider trading trial in New York.

In the secretly recorded phone call from Oct. 24, 2008, played in the U.S. District Court for the Southern District of New York, the hedge fund founder told the head of Galleon's Singapore office that he “heard yesterday from somebody who's...
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