Former Intel Exec Pleads Guilty in Galleon Insider Case
The tenth person to plead guilty in that Galleon insider trading case was a former treasury department executive at Intel. According to the New York Times, the man has agreed to cooperate with authorities but still faces up to 25 years in prison if convicted.
Throughout 2007, the executive, Rajiv Goel, provided Mr. Rajaratnam with details of Intel’s quarterly earnings before they were publicly released. He also tipped Galleon’s founder about a pending joint venture between the Clearwire Corporation and Sprint Nextel, a deal that Intel planned to invest $1 billion in.