Monday, October 19, 2009

Federal Bureau of Investigation - The New York Division: Department of Justice Press Release

Federal Bureau of Investigation - The New York Division: Department of Justice Press Release: "From approximately March 2008 until around October 2008, RAJARATNAM and GOEL engaged in insider trading schemes involving the stock of Clearwire. GOEL obtained Inside Information regarding investments in Clearwire made by his employer in Spring 2008, and provided it to RAJARATNAM in violation of duties of trust and confidence he owed to Intel. RAJARATNAM caused Galleon to trade on the basis of this Inside Information, earning a total profit of approximately $579,000. In exchange for the Inside Information RAJARATNAM received from GOEL, RAJARATNAM placed profitable trades for the benefit of GOEL in a personal brokerage account maintained by GOEL at Charles Schwab."

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