After days of laying the ground for his arrival, former Intel executive and Rajaratnam friend Rajiv Goel has finally taken the witness stand in the Rajaratnam insider trading trial.
Goel has already plead guilty to insider trading.
Goel is wearing a white shirt, a tie, a dark sweater and grey blazer, according to Clusterstock’s Courtney Comstock, who is in the courtroom.
He talks softly, and is short in height.
So far, Goel has told jurors about three ways that Raj, a friend for 25 years, helped him financially.
- Raj lent him $100,000 in 2005.
- One year later, Raj gave Goel $500,000 as a gift.
- The Galleon chief also traded for Goel in his Charles Schwab brokerage account, and earned the former Intel executive between $700,000 – $800,000. One of those trades was 3,500 shares of ATI stock on May 20, 2005.
“There was mystique around wealthy people having Swiss bank accounts, [among] poor people growing up up in India. So I opened an account there and had Raj transfer the money there,” Goel testified.
Goel also told jurors about the $500,000 gift Raj gave to him: “I had never seen so much money.”
He also testified that sometimes Raj asked him for information about Intel.