Gupta Judge Tentatively Bars 'Second Tipper' Wiretaps

Law360, New York (June 11, 2012, 8:59 PM EDT) -- The judge overseeing the insider trading trial of former Goldman Sachs Group Inc. director Rajat Gupta tentatively ruled Monday that the jury cannot hear wiretaps that suggest another Goldman insider was behind some of the alleged tips.

U.S. District Judge Jed S. Rakoff said he was not inclined to allow the defense to introduce two wiretapped phone calls between Goldman's David Loeb and Raj Rajaratnam, the hedge fund founder Gupta allegedly tipped.

The calls, recorded by the FBI in its investigation of the now-imprisoned Rajaratnam, reveal...
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