Possible Goldman Tipster For Rajaratnam Probed In Calif.

Law360, New York (April 19, 2012, 6:55 PM EDT) -- Federal prosecutors in Los Angeles are investigating a current Goldman Sachs Group Inc. employee who may have passed confidential information to hedge fund founder Raj Rajaratnam, lawyers in the Rajat Gupta prosecution said Thursday.

A Goldman “person” is being probed for allegedly tipping the now-imprisoned Rajaratnam about two publicly traded companies, Gupta lawyer Gary Naftalis of Kramer Levin Naftalis & Frankel LLP said at a hearing in Manhattan before U.S. District Judge Jed S. Rakoff.

The revelation could strengthen the defense case for Gupta, a one-time...
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