NY inside-trading trial can feature disputed call
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A New York judge says prosecutors at an insider trading trial can play for jurors the only recording of a phone conversation between a former Goldman Sachs board member and a hedge fund founder.
Federal Judge Jed Rakoff in Manhattan made an earlier tentative ruling permanent Wednesday afternoon at a final conference before the trial of Rajat Gupta starts Monday.
Gupta was a board member at Goldman Sachs and Procter & Gamble before he was accused of giving tips in 2008 to a billionaire hedge-fund trading friend. His lawyer says he gave no inside information and expects to be exonerated at trial.
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The judge left room to later limit how each side uses the 24-minute phone recording from July 2008 as they make their arguments to jurors.
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