Former Goldman Sachs Group Inc. director Rajat Gupta was indicted for conspiracy and securities fraud in connection with insider trading centered on Raj Rajaratnam, co-founder of hedge fund Galleon Group LLC. Rajaratnam was sentenced to 11 years in prison on October 13, 2011. Gupta, sat on the board of Procter & Gamble Co., was charged with five counts of securities fraud and one count of conspiracy to commit securities … [Read more...]
Former Goldman Sachs Director Rajat Gupta Charged in Galleon Investigation
October 26, 2011
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Goldman Sachs Denies Charges of Fraud
April 19, 2010
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The Securities Exchange and Commission, charged Goldman Sachs Group Inc. with deceiving clients by selling them mortgage securities secretly designed by a hedge-fund firm, Paulson & Co, run by John Paulson. The SEC accused Goldman and one of its vice presidents, Fabrice Tourre, of failing to alert investors in the collateralized debt obligation (CDO), ABACUS 2007-AC1. More specifically, regulators say Goldman allowed Paulson's $32 … [Read more...]