On day four of the Raj Rajaratnam insider trading trial, former McKinsey executive Anil Kumar, is still taking questions from the prosecution in the witness box.
This morning Kumar talked in more detail about his alleged insider trading conspiracy with Raj.
In particular, he relayed details about “super confidential” negotiations between tech companies AMD and ATI that Kumar says he alerted Raj to months before the deal went public.
Kumar also told jurors how he was “terrified” when Raj sent him top-secret documents from Intel twice in 2005, according to Bloomberg.
Rajaratnam sent Kumar slides of Intel documents with the company’s plans for the coming year.. At the time, Kumar was providing consulting services for Intel’s rival, Advanced Micro Devices Inc.
“I was terrified of having such documents in my office,” Kumar told jurors in Manhattan federal court. “My office was an open door office. People walked in and out. To see an Intel document was not appropriate at all, so I asked my assistant to shred it. He said, I know you’re working at AMD — these might help.”
This afternoon, the government played wiretapped conversations between Raj and his brother Rengan Bloomberg says, in which they discuss trying to get another McKinsey employee called David Palecek to “play ball” — a conversation federal prosecutors referred to in their opening statements last week.
Jurors also heard how Raj talkd about Danielle Chiesi having an “intimate relationship” with AMD CEO Hector Ruiz, and was therefore providing better tips about the tech company than Kumar was. But Ruiz denies any relationship.
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