Ex-Intel executive pleads guilty in NYC to fraud - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Ex-Intel executive pleads guilty in NYC to fraud

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Goffer, a man regulators call "the Octopussy," and six other white-collar defendants on Tuesday, Feb. 2, 2010 pleaded not guilty in federal court in Manhattan. (AP Photo/Louis Lanzano, File) Goffer, a man regulators call "the Octopussy," and six other white-collar defendants on Tuesday, Feb. 2, 2010 pleaded not guilty in federal court in Manhattan. (AP Photo/Louis Lanzano, File)
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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.

Copyright 2010 The Associated Press.

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