The information Cardillo provided was 'extraordinarily significant' and helped advance the government’s investigation of Gupta, Brodsky said. Cardillo testified at the trial of Gupta, who was found guilty in June of three counts of securities fraud and one count of conspiracy.
'Cardillo was the first person to bring to the government’s attention illegal tips Raj Rajaratnam had received from an inside source at P&G', Brodsky said in his memo to U.S. District Judge Jed Rakoff in Manhattan. 'It came at a time when the government’s investigation into Gupta’s criminal involvement had not advanced significantly'.
Cardillo started working at Galleon in 2007 managing a portfolio for stocks focusing on the consumer sector, working for Rajaratnam’s brother, R.K., who was also a Galleon fund manager. He testified at Gupta’s trial that he traded on P&G stock in 2009 after learning from R.K. Rajaratnam that Raj Rajaratnam had a 'guy' on the consumer-product’s company board.
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Gupta Witness Cardillo Gave ‘Extraordinary’ Aid, Prosecutor Says
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