SEC Says Ex-Goldman Sachs Director Gupta Tipped Rajaratnam
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Rajat K. Gupta, a former Goldman Sachs Group Inc. board member, was accused of insider trading by U.S. regulators who said he passed confidential information to Galleon Group founder Raj Rajaratnam including Berkshire Hathaway Inc.’s $5 billion investment in Goldman Sachs.
Gupta, 62, also tipped Rajaratnam on quarterly earnings at Goldman Sachs and Procter & Gamble Co., where he also was a board member, according to a Securities and Exchange Commission administrative order filed today. The tips generated more than $18 million, the SEC said.