Rajat K. Gupta, a former head of McKinsey & Co, and director of Goldman Sachs (NYSE: GS) will go on trial for insider trading. He will sit in Federal District Court today and hear the charges against him read.
Gupta allegedly gave Raj Rajaratnam, former head of the Galleon Group hedge fund, confidential information about two companies. The information helped create $63 million in illegal trading profits. Much of the evidence presented will be based phone bills that show Gupta’s calls in which he may have talked about the confidential matters. Other evidence is based on his trading records.
A number of legal experts do not think there are enough smoking guns to show Gupta’s guilt. US prosecution insider trading would be badly hurt if a prized target like Gupta gets off.
Douglas A. McIntyre
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.