According to the New York Times, Goel, a former executive of Intel, admitted in court on Monday afternoon that he had passed confidential corporate information to Galleon’s founder, Raj Rajaratnam. Agents for the Federal Bureau of Investigation were secretly listening to the conversations in which Goel was sharing information with Rajaratnam, the Times reports.
Goel pleaded guilty to two counts of conspiracy and securities fraud. These charges together carry a maximum penalty of 25 years imprisonment. As part of the plea agreement, Goel has agreed to cooperate with investigators in the case.
Goel is due to be sentenced on May 28.