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Galleon Group LLC co-founder Raj Rajaratnam told a colleague he had been tipped to unanticipated losses at Goldman Sachs Group Inc. by a source on the board and would trade on the leak, according to a wiretapped recording.
“I heard yesterday from somebody who is on the board of Goldman Sachs that they are going to lose $2 per share,” Rajaratnam told Galleon’s David Lau on an Oct. 24, 2008, recording played for jurors Wednesday at Rajaratnam’s insider-trading trial in New York.
