{"id":20958,"date":"2011-03-02T08:08:18","date_gmt":"2011-03-02T13:08:18","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=20958"},"modified":"2011-03-02T08:22:29","modified_gmt":"2011-03-02T13:22:29","slug":"goldman-director-charged-in-galleon-case","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2011\/goldman-director-charged-in-galleon-case.html","title":{"rendered":"Former Goldman Director Charged In Galleon Case"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/03\/alg_rajat-gupta.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-20959\" title=\"Rajat Gupta\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/03\/alg_rajat-gupta-197x300.jpg\" alt=\"\" width=\"158\" height=\"240\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/03\/alg_rajat-gupta-197x300.jpg 197w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/03\/alg_rajat-gupta.jpg 252w\" sizes=\"auto, (max-width: 158px) 100vw, 158px\" \/><\/a>New York (HedgeCo.net) &#8211; Former\u00a0Goldman Sachs director Rajat Gupta has been\u00a0charged with allegedly tipping hedge fund manager Raj Rajaratnam off to insider information in the giant SEC vs. Galleon case.<\/p>\n<p>Gupta is\u00a0alleged to have\u00a0told Rajaratnam of a $5 billion investment by\u00a0Warren Buffett in Goldman Sachs before the information became public.<\/p>\n<p>&#8220;The Galleon hedge fund managed to buy nearly 300,000 shares of Goldman stock just before the markets closed. The shares soared when news of Buffett&#8217;s investment was disclosed.&#8221; Bloomberg reports.\u00a0Rajaratnam is said to have sold the stock for a $900,000 profit.<\/p>\n<p>The charges are &#8220;totally baseless,&#8221; Gary Naftalis, Gupta&#8217;s lawyer said, adding that Gupta\u00a0is not accused of trading in the stocks himself or sharing in any profits. Naftalis said Gupta did nothing wrong and stands by his 40-year record of ethical conduct, integrity and commitment to keeping clients\u2019 confidence.<\/p>\n<p>Rajaratnam was taken into custody in New York on Oct. 16, 2009 in what is being called the USA\u2019s largest hedge fund insider-trading scheme. He is being accused of insider trading and securities fraud, generating as much as $49 million in profit. The majority of the stocks involved are in technology, including, IBM, Intel, Akamai Technologies Inc, Polycom Inc, Hilton Hotels Corp, Google Inc, Sun Microsystems Inc SUNW.TI, Clearwire Corp, Advanced Micro Devices, ATI Technologies Inc and eBay Inc.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; Former\u00a0Goldman Sachs director Rajat Gupta has been\u00a0charged with allegedly tipping hedge fund manager Raj Rajaratnam off to insider information in the giant SEC vs. Galleon case. Gupta is\u00a0alleged to have\u00a0told Rajaratnam of a $5 billion investment [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-20958","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/20958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=20958"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/20958\/revisions"}],"predecessor-version":[{"id":20961,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/20958\/revisions\/20961"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=20958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=20958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=20958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}