U.S. Says Gupta, Rajaratnam Brother Conspired in Insider Scheme
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Rajat Gupta, a former Goldman Sachs Group Inc. director, and Raj Rajaratnam’s brother, Rengan, each conspired in insider trading with the Galleon Group LLC co-founder, the U.S. said.
Rajaratnam, 53, is slated to go on trial March 8, as the central figure in the largest crackdown on hedge-fund insider trading in U.S. history. The Sri Lankan-born money manager is accused of making $45 million from confidential information leaked by corporate insiders and hedge fund traders. He may spend as long as 20 years in prison if convicted of fraud.