Gupta Got $4M JV Boost For Tipping Rajaratnam, Feds Say

Law360, New York (May 15, 2012, 2:01 PM EDT) -- Rajat Gupta, the former Goldman Sachs Group Inc. director facing insider trading-related charges, received a $4 million increase to his stake in a joint investment with hedge fund founder Raj Rajaratnam shortly after giving Rajaratnam an illicit tip, prosecutors said Monday.

Prosecutors said in a court filing that Rajaratnam, who is serving an 11-year prison sentence for insider trading, promised to up by $4 million Gupta's stake in an investment they shared immediately after Gupta shared the details of a closed-door Goldman board meeting.

The government...
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