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NY inside-trading trial can feature disputed call

A New York judge says prosecutors at an insider trading trial can play for jurors the only recording of a phone conversation between a former Goldman Sachs board member and a hedge fund founder.

Federal Judge Jed Rakoff in Manhattan made an earlier tentative ruling permanent Wednesday afternoon at a final conference before the trial of Rajat Gupta starts Monday.

Gupta was a board member at Goldman Sachs and Procter & Gamble before he was accused of giving tips in 2008 to a billionaire hedge-fund trading friend. His lawyer says he gave no inside information and expects to be exonerated at trial.

The judge left room to later limit how each side uses the 24-minute phone recording from July 2008 as they make their arguments to jurors.

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