Rajat Gupta just surrendered, was arrested, and he will be charged with criminal insider trading charges, according to BusinessInsider.
Background: the former Mckinsey exec and Goldman board member was charged civilly with insider trading on March 1, 2011. The SEC later dismissed the case and word was that they would instead sue him in NY Federal Court.
The criminal charges are a much bigger deal. Gupta was accused of insider trading information gleaned in Goldman Sachs' board room (the indictment is forthcoming), and now everyone wants to know how the biggest insider trial in history (Gupta is the highest-ranking exec to testify) will proceed. What will his defense be? What will the prosecution argue?
Read more: http://www.businessinsider.com/rajat-gupta-insider-trading-lloyd-blankfein-testimony-2011-10#ixzz1btzaK3eS
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