Former NYC executive expected to enter plea in hedge fund insider trading case
By APMonday, February 8, 2010
Plea anticipated by former Intel executive in NYC
NEW YORK — A former Intel executive charged in a massive insider trading case is expected to give up his fight against the charges.
Rajiv Goel (rah-JEEV’ goh-EHL’) is scheduled to appear Monday afternoon in Manhattan federal court. Last week, prosecutors filed papers that would pave the way for a plea.
He may be joining eight others who have already pleaded guilty. Authorities call it the largest hedge fund insider trading case in history.
Goel’s lawyers have declined to comment prior to the hearing.
So far, 21 people have been charged in the case. They include hedge fund operator Raj Rajaratnam (RAHJ rah-juh-RUHT’-nuhm), one of America’s richest men.
Goel, a resident of Los Altos, Calif., is the former director of strategic investments at Intel Capital, the investment arm of Intel Corp.
