U.S. expands insider-trading case against Gupta

Prosecutors say ex-Goldman Sachs director was involved in more illegal trades than they previously alleged

Federal prosecutors say they merely scratched the surface last spring with their insider-trading allegations against former McKinsey & Co. Partner and Goldman Sachs Director Rajat Gupta.

Last March, the Securities and Exchange Commission (SEC) brought civil charges against Gupta for allegedly leaking inside information to convicted inside trader Raj Rajaratnam, the former Galleon group founder who is now serving an 11-year prison term. Gupta surrendered to the Federal Bureau of Investigation in October 2011 and was released on $10 million bail. He faces separate criminal charges related to the alleged insider-trading scandal, with a trial scheduled for April.

Ashley Post

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