One of the biggest insider trading scandals in the technology world in recent years is the Galleon case where insiders at IBM and Intel leaked information to investor Raj Rajaratnam who used the information to reap millions in profits from trades. Former AMD CEO Hector Ruiz was also implicated in an insider trading case that ultimately forced Ruiz to step down from his position as the chairman of GlobalFoundries, the AMD chipmaking spin off.

New developments have surfaced in the Galleon case reports the New York Times. What Rajaratnam and former Intel executive Rajiv Goel didn’t know was that the FBI was listening in on their phone calls. Goel is now the tenth person to plead guilty in relation to the case after admitting that he passed insider information to Rajaratnam throughout 2007. The insider information had to do with Intel earnings reports before they were publicly released. Goel faces a maximum penalty of 25 years in prison. 

Goel said in court, "I cannot express how sorry I am for my conduct. I intend to do the right thing."

In addition to passing earnings numbers, Goel also passed information to Galleon on the Clearwire and Sprint deal that Intel intended to invest $1 billion. Part of the plea agreement in the case was Goel's agreement to work with investigators. He is set for sentencing on May 28 and is out on $750,000 bail.

Despite Goel's admission that he passed insider secrets to Rajaratnam, the Galleon head still maintains he did no wrong. Goel is reportedly the third person to plead guilty who had direct contact with Rajaratnam. In all federal authorities claim that the insider tips passed to Rajaratnam resulted in $50 million in gains for Galleon. So far, 22 people have been criminally charged or face charges by the SEC in connection with the case.