A study suggests that some SEC employees engaged in insider trading in companies that became subjects of agency scrutiny, The Washington Post reports.» Read More
As previously discussed, one of the bigger revelations that could cause issues for Raj Rajaratnam is that his “business associate and friend,” Rajat Gupta, passed him inside information obtained from Gupta’s post as a board member of Goldman Sachs, which the Galleon founder proceeded to (allegedly!) trade on.
Despite pressure from federal prosecutors overseeing the case against Raj Rajaratnam, the Securities and Exchange Commission pushed ahead with its insider trading case against Rajat Gupta because of his status as a sitting board member on public companies.
Rajat K. Gupta, the former Goldman Sachs director accused by the government of passing insider information about the Wall Street firm, had tried to resign from the Goldman board in the middle of the 2008 financial crisis, only weeks before he is said to have provided the tips to the hedge fund manager Raj Rajaratnam, the New York Times reports.
The insider trading allegations against former McKinsey & Co. chief Rajat Gupta led to a bitter dispute between federal prosecutors and securities regulators, according to people familiar with the matter.
The revelation that there may have been a “third man” at McKinsey with connections to the alleged insider trading schemes of Galleon founder Raj Rajaratnam casts a shadow across the reputation of the famous consulting firm. How deep does the corruption run?
At least as noteworthy as what attorneys did say in two-and-a-half hours of opening statements in the Raj Rajaratnam insider trading trial is what they did not say.
Mary Schapiro is facing Congressional questioning about a former general counsel who weighed in on the Bernard L. Madoff case even though he had a financial interest in it, the New York Times reports.
In Wall Street terms, the trial of Raj Rajaratnam is like Wyatt Earp and Doc Holliday against Johnny Ringo and the Clanton Gang, staging what could be the final showdown at the financial markets’ version of Tombstone.
It’s almost certain that the government recorded conversations between Rajat Gupta and Raj Rajaratnam.
Accused insider trader Rajat Gupta resigned yesterday from the boards of directors of AMR Corporation and its subsidiary, American Airlines, Inc.
Rajat Gupta has sent an email to dean of the Dean of the Hyderabad-based Indian School of Business, which he co-founded, describing his relationship with Raj Rajaratnam as "strained," according to the Time of India.
The insider trading trial of Galleon founder Raj Rajaratnam may include testimony from Goldman Sachs CEO Lloyd Blankfein.
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Rajat Gupta vigorously denies the insider trading charges the SEC lodged against him, calling them “totally baseless.”
McKinsey & Co is reeling from the revelation that the Securities and Exchange Commission believes one of its most high-flying alumni gave corporate secrets to a hedge fund manager who is now accused of being at the center of a large and complex insider trading scheme.
Rajat Gupta may be the most important businessman ever charged with a serious violation of securities laws.
The Securities and Exchange Commission's charges against ex-Goldman Sachs board member Rajat Gupta on insider trading is yet another blow to investor confidence, Matthew Halbower, CEO and chief investment officer of hedge fund Pentwater Capital Management, told CNBC Tuesday.
The SEC is accusing former Goldman Sachs board member Rajat Gupta with illegally giving Galleon hedge fund founder Raj Rajaratnam advance notice of Berkshire Hathaway's $5 billion dollar investment in Goldman at the height of the credit crisis.
The insider trader charges against Rajat Gupta raise the question: if he leaked to Raj Rajaratnam about the Goldman-Berkshire Hathaway deal, what else might he have leaked?
The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.