Business Today – Former Goldman Sachs director Rajat Gupta faces one count of conspiracy to commit securities fraud and five counts of securities fraud. The trial by jury begins in New York on May 21.
On March 12, 2007 Gupta participated by telephone, from the premises of Rajaratnam’s New York hedge fund Galleon Group, in the audit committee meeting of the Goldman Sachs board about the company’s quarterly earnings to be announced the next day (March 13).Twenty-five minutes after the call ended, Galleon funds bought 3,50,000 shares of Goldman stock.
