Former Goldman Sachs Director Rajat Gupta Charged in Galleon Investigation

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...]

Goldman Sachs Denies Charges of Fraud

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...]