The former board member of Proctor and Gamble and Goldman Sachs Group Inc , Rajat Gupta is accused of leaking stock secrets to multimillionaire Hedge-Fund founder Rajaratnam. The latter is already a convict in the case and is now in the prison. In the same federal court where Rajaratnam underwent trial will now conduct trials on Rajat Gupta. The case is USA v Gupta, U.S District Court for Southern District of New York, Number: 11-907.
The 63-year-old Gupta has pleaded that he was not guilty of the offence. The government, on the other hand, alleged that Gupta bribed Rajaratnam to Berkshire Hathaway Inc’s investment in Goldman company during the financial crisis in 2008.
It may be recalled that Rajat Gupta is also accused of leaking corporate secrets of Proctor and Gamble to Rajaratnam in 2008 and 2009. Gupta who joined Goldman’s board has left the board seven months after Rajaratnam was arrested. (Phani)
