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Intel CEO Says Had No Knowledge of Trading Probe

Published on October 19, 2009
by Rebecca Blumenstein

Intel Corp.’s (INTC) chief executive said the company had no advance warning or knowledge about the insider-trading investigation into Galleon Group, which has implicated an Intel executive.

“No one in our legal department or management knows anything about this,” said Paul Otellini, chief executive of the chip giant, in an interview at The Wall Street Journal’s headquarters in New York.

An executive in Intel’s treasury department, Rajiv Goel, is one of those facing conspiracy and securities-fraud criminal charges, as well as civil insider-trading charges, in the investigation into Galleon, a hedge fund at the center of the biggest insider-trading case in decades.

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