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Goldman CEO to Testify at Rajaratnam Trial

Story updated to note that Rajat Gupta has denied charges levied against him.

NEW YORK ( TheStreet) -- Goldman Sachs (GS - Get Report) CEO Lloyd Blankfein will testify for the U.S. government at the coming trial of hedge-fund manager Raj Rajaratnam, The Wall Street Journal reported, citing people familiar with the matter.

The Securities and Exchange Commission has charged Rajaratnam and others in a insider trading scheme. Nineteen of 26 defendants in the case have pleaded guilty, the Journal noted.

Rajaratnam's trial in federal court begins next Tuesday.

The U.S. would use Blankfein to establish evidence linking information about Goldman that was shared among board members and executives with former Goldman director Rajat Gupta, according to people familiar with the case, the Journal reported.

Last week, the SEC brought charges against Gupta for allegedly providing inside information to Galleon Group's Rajaratnam. Gupta has denied the charges.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

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