Ex-Goldman board member surrenders in trading case

Rajat Gupta was arrested today in connection with the Galleon insider trading scandal

By Associated Press
Published October 26, 2011 1:00PM (EDT)
Rajat Kumar Gupta, former Chairman of Global Fund to Fight AIDS, Tuberculosis and Malaria, listens to a statement, during a session at the World Economic Forum in Davos, Switzerland, in 2009.  (AP/Keystone/Alessandro Della Bella)
Rajat Kumar Gupta, former Chairman of Global Fund to Fight AIDS, Tuberculosis and Malaria, listens to a statement, during a session at the World Economic Forum in Davos, Switzerland, in 2009. (AP/Keystone/Alessandro Della Bella)

NEW YORK (AP) — A former Goldman Sachs board member linked to a massive hedge fund insider trading case has surrendered in New York City to face criminal charges.

Rajat Gupta surrendered in federal court in Manhattan on Wednesday.

Gupta's name played prominently at the trial of former hedge fund titan Raj Rajaratnam, convicted this year of insider trading. Jurors heard wiretaps of the men discussing what prosecutors portrayed as inside information about Goldman Sachs.

Rajaratnam got 11 years in prison.

Gupta's lawyer says the allegations are "totally baseless."


Associated Press

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