Key witness on deck at NYC insider trading trial

NEW YORK (AP) — A former Intel executive who has pleaded guilty to leaking company secrets is set to take the witness stand in New York City at the insider trading trial of a hedge fund manager.

Prosecutors say Rajiv Goel and the defendant, Raj Rajaratnam, were caught on a wiretap discussing a closed-door meeting in 2008 of the Intel board of directors. Goel revealed that the board agreed to invest up to $1 billion in a joint wireless venture by Sprint and Clearwire.

Goel was expected to begin testifying Tuesday afternoon.

The 53-year-old Rajaratnam has pleaded not guilty to charges he made more than $50 million illegally by trading on non-public information.

Nineteen defendants charged in a federal crackdown on insider trading have pleaded guilty. Some are cooperating with the government, including Goel.