NY jury hears recording of ex-P&G board member
{{#rendered}} {{/rendered}}A New York jury at an insider-trading trial has heard the lone recorded phone call of an ex-Goldman Sachs board member speaking with a billionaire hedge fund founder.
The tape was played Wednesday at the conclusion of the third day of the trial of Rajat Gupta (rahj-AHT' GOOP'-tah). He's accused of helping Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm) make millions of dollars through inside tips about Goldman Sachs and Procter & Gamble Co.
Gupta is from Westport, Conn. He sat on the boards of both companies when prosecutors say he fed the information to his friend in 2007 and 2008.
{{#rendered}} {{/rendered}}Prosecutors say Gupta spoke about confidential information he wasn't permitted to share with outsiders. Defense lawyers say his comments were already widely discussed publicly by Goldman executives.
The Sri Lanka-born Rajaratnam is serving an 11-year prison sentence for insider trading.