Former Goldman Sachs Group Inc. director Rajat Gupta’s breach of contract suit against the chief executive officer of private equity firm New Silk Route Partners was dismissed as moot by a federal judge.
Rajat Gupta, the former Goldman Sachs Group Inc. director accused of feeding tips to Galleon Group LLC co-founder Raj Rajaratnam, was charged in an indictment that made him the highest-ranking executive arrested in a nationwide crackdown on insider trading.
George Canellos, who played a key role in the U.S. Securities and Exchange Commission’s efforts to punish misconduct related to the 2008 financial crisis, is leaving the agency after more than four years.
Former Goldman Sachs Group Inc. director Rajat Gupta was indicted for conspiracy and securities fraud, making him the highest-ranking executive charged in a nationwide crackdown on insider trading centered on Raj Rajaratnam, co-founder of hedge fund Galleon Group LLC.
To U.S. prosecutors, former Goldman Sachs Group Inc. director Rajat Gupta is a Wall Street insider who fed secret tips to his business partner Raj Rajaratnam so the fund manager could reap millions in illicit profits.
Former Goldman Sachs Group Inc. director Rajat Gupta asked a federal appeals court to overturn his insider-trading conviction, with his lawyer arguing that prosecutors shouldn’t have been allowed at his jury trial to use secretly wiretapped calls in which he wasn’t a participant.
Jury foreman Richard Lepkowski didn’t want to convict Rajat Gupta of insider trading. To him and other jurors, Gupta had lived a “story-book life” and “the American dream,” he said. In the end, though, the case was just too strong.