Top Business News

NEW YORK (Reuters) – Goldman Sachs Group (GS.N) Chief Executive Lloyd Blankfein has agreed to testify for the U.S. polity at the upcoming effort of Galleon inclose fund originator Raj Rajaratnam, the Wall Street Journal reported, citing grouping familiar with the matter.

The malefactor effort of the Sri Lankan-born Rajaratnam, 53, is regular to move on March 8 in borough federal court, conception of what U.S. prosecutors call the large probe of insider trading at inclose funds.

The long-running case took a newborn turn two life past when the U.S. Securities and Exchange Commission charged past Goldman administrator Rajat Gupta with providing exclusive information to Rajaratnam. Gupta called the charges baseless.

The U.S. polity would use Blankfein to establish evidence linking information most Goldman that was shared among commission members and executives with Gupta, the Journal said.

Blankfein's evidence would be used as a bridge establishing the origin of the counsel allegedly provided by Gupta to Rajaratnam, who the polity says traded on the information, the essay said.

Goldman representatives were not immediately available for interpret right U.S. business hours.

(Reporting by Soyoung Kim; Editing by Muralikumar Anantharaman)

Source