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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

USA v. Gupta


Case Number

1:11-cr-00907

Court

New York Southern

Nature of Suit

Date Filed

October 25, 2011

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.