Ex-Goldman Sachs Director to Face Criminal Charges

Former Goldman Sachs Group Inc. director,
Rajat Gupta, 03/09/08. (photo: Reuters)

By Basil Katz and Moira Herbst, Reuters

26 October 11

Rajat Gupta will surrender to FBI Wednesday - was named an unindicted co-conspirator of Raj Rajaratnam. Gupta's lawyer has no comment on possible charges, reiterates that Gupta committed no wrongdoing.

A former Goldman Sachs director, who also was once the global head of elite consultancy McKinsey & Co, will surrender to the FBI on Wednesday to face criminal insider trading-related charges, a person familiar with the investigation said.

Rajat Gupta, one of the most prominent business executives to be caught up in the government's wide-ranging insider-trading probe, had been named by prosecutors as an unindicted co-conspirator in the criminal case against hedge fund tycoon Raj Rajaratnam earlier this year.

The person familiar with the investigation, who declined to be identified because the charges have not yet been made public, said Gupta had agreed to surrender to authorities.  READ MORE