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Prosecutor Says Rampant Insider Trading Now On The Wane

Rajat Gupta

Preet Bharara, the United States Attorney for the Southern District announced that Rajat Gupta, former corporate chairman of an international consulting firm, and a member of the Boards of Directors of Goldman Sachs and the Procter & Gamble, was found guilty Friday by a jury in Manhattan federal court of conspiracy and securities fraud crimes stemming from his involvement in an insider trading scheme with his business partner and friend, Raj Rajaratnam, the founder and former head of the Galleon Group.