By Chad Bray
Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Bail was set at $750,000 Thursday for an Intel Corp. (INTC) executive accused in a $20 million insider-trading case involving hedge-fund founder Raj Rajaratnam.
Rajiv Goel, an executive in Intel's treasury department, made his first appearance in a New York courtroom Thursday in the case before U.S. Magistrate Judge Frank Maas in Manhattan.
The judge set bail at $750,000, to be secured by $100,000 in cash. The personal recognizance bond would be signed by Goel's wife.
"Mr. Goel looks forward to his day in court," said David Zornow, Goel's lawyer. "We will do our speaking in the courtroom."
Goel and Rajaratnam, the founder of hedge-fund firm Galleon Group, are among six people charged criminally earlier this month in a $20 million insider-trading case.
Goel, a managing director of strategic investments for Intel's treasury group, has been placed on administrative leave while the matter is being investigated. He is facing conspiracy and securities fraud charges.
Prosecutors have alleged that Goel provided inside information regarding investments by Intel Capital, including an investment in wireless carrier Clearwire Corp. (CLWR) in the spring of 2008, to Rajaratnam, who then traded on them.
The government alleged that Rajaratnam placed profitable trades for the benefit of Goel in Goel's brokerage account.
-By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com