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A Goldman
Sachs sign is seen over their kiosk on the floor of the
New York Stock
Exchange, April 26, 2010. (Credit: Reuters/Brendan McDermid)
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(Reuters) -
Rajat Gupta, a former Goldman Sachs Group Inc director and former global head
of McKinsey & Co, was in FBI custody on Wednesday on criminal charges related
to his hedge fund manager friend Raj Rajaratnam, the central figure in a U.S.
crackdown on insider trading.
An FBI
spokesman said Gupta, 62, surrendered to agents at his home in Connecticut and
he was driven to the New York FBI office, where he was placed under formal
arrest at 8.15 a.m. EDT (1215 GMT).
Gupta is
expected to appear in court later in the day on charges related to the
Rajaratnam insider trading case, the spokesman said. Prosecutors said at
Rajaratnam's trial that in 2008 Gupta leaked information about Goldman that he
learned from the bank's board meetings.
Rajaratnam
was convicted in May by a New York federal jury after a two-month-long trial.
On October 13, a judge sentenced him to 11 years in prison, the longest
recorded for insider trading.
(Reporting
by Basil Katz, Grant McCool and Jonathan Stempel in New York, editing by Gerald
E. McCormick)
Related Articles:
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The SEC
says that information from Mr Gupta helped
convicted trader Rajaratnam make
millions of dollars (BBC)
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