An ex-General Motors Co. engineer and her husband were found guilty of stealing trade secrets on hybrid-car technology from the automaker to help develop such vehicles in China.
A federal court jury in Detroit reached the verdicts today after a trial that started Nov. 5. Jurors began deliberating yesterday.
(NEW YORK) — A former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts was sentenced Wednesday to 2 years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend. Rajat Gupta, 63, of Westport, Conn., was sentenced by U.S. District Court Judge Jed Rakoff, who also ordered him to pay a $5 million fine.
[AP] - The secretly taped conversations aired at the insider trading trial of Raj Rajaratnam, a one-time billionaire hedge fund boss, have given jurors a colorful dose of the go-big-or-go-home mentality at Wall Street firms.
NEW YORK (Reuters) - A former portfolio manager at Raj Rajaratnam's Galleon Group described pressure at the hedge fund to get "an edge" in stock trades and said he passed on secret details about companies to his boss.