Thursday, December 01, 2011

Goldman Sachs CEO can testify in insider case: NY judge



(Reuters) - Goldman Sachs Group Inc Chief Executive Officer Lloyd Blankfein may be asked to testify in a market regulator's insider-trading case against a former director of the Wall Street bank, a judge ruled.

The U.S. Securities and Exchange Commission has accused Rajat Gupta, a former board member at Goldman and Procter & Gamble, of giving inside tips about the two companies to his friend Raj Rajaratnam in 2008 and 2009.

Rajaratnam, founder of the Galleon Group hedge fund, was convicted of 11 criminal counts in May. Blankfein testified for the prosecution at that trial.

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