{"id":25648,"date":"2011-10-26T10:30:57","date_gmt":"2011-10-26T14:30:57","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=25648"},"modified":"2011-10-26T10:47:58","modified_gmt":"2011-10-26T14:47:58","slug":"gupta-faces-charges-in-galleon-hedge-fund-fraud-case","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2011\/gupta-faces-charges-in-galleon-hedge-fund-fraud-case.html","title":{"rendered":"Goldman Sachs Director Faces Charges In Hedge Fund Insider Trading Case"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/gupta-crop.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-25649\" title=\"gupta-(crop)\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/gupta-crop-173x300.jpg\" alt=\"\" width=\"173\" height=\"300\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/gupta-crop-173x300.jpg 173w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/gupta-crop.jpg 216w\" sizes=\"auto, (max-width: 173px) 100vw, 173px\" \/><\/a>New York (HedgeCo.net) &#8211; One of Goldman Sachs&#8217; former\u00a0directors, Rajat Gupta, is turning himself over to the FBI today, the Guardian reports.<\/p>\n<p>Gupta faces insider trading charges\u00a0as an unindicted co-conspirator in the criminal case against hedge fund manager Raj Rajaratnam. So far he denies any wrongdoing.<\/p>\n<p>&#8220;Any allegation that Rajat Gupta engaged in any unlawful conduct is totally baseless.&#8221; Gupta&#8217;s attorney, Gary Naftalis, said, &#8220;The facts demonstrate that Mr Gupta is an innocent man and that he has always acted with honesty and integrity. He did not trade in any securities, did not tip Mr Rajaratnam so he could trade, and did not share in any profits as part of any quid pro quo.&#8221;<\/p>\n<p>The SEC originally brought civil fraud charges against Gupta\u00a0in March for allegedly tipping Rajaratnam off to insider information in the SEC vs. Galleon case.<\/p>\n<p>Gupta is alleged to have told Rajaratnam of a $5 billion investment by Warren Buffett in Goldman Sachs before the information became public.<\/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; One of Goldman Sachs&#8217; former\u00a0directors, Rajat Gupta, is turning himself over to the FBI today, the Guardian reports. Gupta faces insider trading charges\u00a0as an unindicted co-conspirator in the criminal case against hedge fund manager Raj Rajaratnam. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,11,3],"tags":[],"class_list":["post-25648","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/25648","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=25648"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/25648\/revisions"}],"predecessor-version":[{"id":25652,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/25648\/revisions\/25652"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=25648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=25648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=25648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}