NY inside-trading trial likely to feature key call

NEW YORK (AP) - A judge says he expects to let prosecutors use
at trial a recording of a phone call between a former Goldman Sachs
board member accused of insider trading and a hedge fund founder.
Judge Jed Rakoff made the tentative ruling at a final hearing
Wednesday before the trial of Rajat Gupta begins next week.
Gupta was a board member at Goldman Sachs and Procter & Gamble
when the government says he gave tips in 2008 to a billionaire
hedge-fund trading friend. Gupta's lawyers say he did not.
Prosecutors plan to play a recording of a July 2008 conversation
in which Gupta discussed Goldman Sachs' plans. Defense lawyers say
the information was already public. It is the only recording
between the men that relates to the charges.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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