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Ex-Intel executive pleads guilty in NYC to fraud

Associated Press

Posted on February 8, 2010 at 1:01 PM

NEW YORK (AP) — A former Intel executive charged in a massive insider trading case has pleaded guilty to conspiracy and securities fraud.

Rajiv Goel (rah-JEEV' goh-EHL') entered the plea Monday in Manhattan federal court. Sentencing has been set for May 28.

Goel joins eight others who have already pleaded guilty. Authorities call it the largest hedge fund insider trading case in history.

So far, 21 people have been charged in the case. They include hedge fund operator Raj Rajaratnam (RAHJ rah-juh-RUHT'-nuhm), one of America's richest men.

Goel, a resident of Los Altos, Calif., is the former director of strategic investments at Intel Capital, the investment arm of Intel Corp.

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