NEW YORK -  Rajiv Goel, a former executive at Intel Corp., pleaded guilty in federal court, Monday, to a two-count Information charging him with conspiracy and securities fraud stemming from his involvement in the largest hedge fund insider trading case in history.

Goel, 51, of Los Altos, California, admitted to conspiring to commit insider trading with Raj Rajaratnam of the Galleon Group family of hedge funds, as well as to substantive securities fraud.

Rajaratnam served as the portfolio manager of Galleon Technology Offshore, Ltd., as well as certain accounts of Galleon Diversified Fund, Ltd.

From 2007 through 2009, Goel and Rajaratnam (who met in the 1980s while attending the same business school) engaged in an insider trading scheme in which Goel obtained material, nonpublic information ("Inside Information") relating to Intel and provided that information to Rajaratnam. Goel provided the inside

information with the understanding that Rajaratnam would trade on it, in breach of his fiduciary and other duties of trust and confidence owed to Intel.

One impact of this activity was a swing of approximately $59.5 million -- in the three business days preceding Intel's earnings announcement.

The conspiracy count carries a maximum sentence of five years in prison and a maximum fine of the greater of $250,000 or twice the gross gain or loss from the offense. The securities fraud count carries a maximum sentence of 20 years in prison and a fine of $5 million. The Information also seeks forfeiture from Goel of the property that constitutes or is derived from proceeds traceable to the commission of the offenses charged. Goel is scheduled to be sentenced on May 28, 2010,