Wednesday, March 2, 2011
United States SEC order instituting proceedings against Rajat Gupta
The Securities and Exchange Commission of the United States has instituted public administrative and cease-and-desist proceedings against Rajat Gupta, Westport, Connecticut-based business consultant who served on the board of directors of Goldman Sachs and Procter and Gamble. These proceedings relate to insider trading charges brought against him by the SEC, for allegedly providing illegal tip-offs to Raj Rajaratnam, founder of Galleon Management and hedge fund manager. The SEC said
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