Market Commentary and Intraday News
Gov't witness tells NY jury of passing inside info
289 days ago
(AP:NEW YORK) A star government witness in the trial of a San Francisco hedge fund operator has told a New York jury about her history of passing inside information to another hedge fund boss eventually arrested in the biggest insider trading prosecution in history.
Fort Lauderdale, Fla., resident Roomy Khan testified Monday a job offer led her to reveal inside secrets about Intel Corp. to Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm) in the 1990s.
Khan's testimony in Doug Whitman's trial focused on secrets she says she revealed about Intel earnings in early 1997 to Rajaratnam, who's in prison on an insider trading conviction. The Sri Lanka-born Rajaratnam started a hedge fund that managed up to $7 billion before it was closed.
Whitman is accused of making almost $1 million using inside tips from Khan and others. He denies that.
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