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Westporter Surrenders on Insider Trading Charges

WESTPORT, Conn. – Westport resident Rajat Gupta surrendered to the FBI Wednesday morning to face insider trading charges, The New York Times reports.

The specific charges against Gupta, a former director of Goldman Sachs and Procter & Gamble, have not been disclosed. But in March, the Securities and Exchange Commission accused Gupta of giving inside information to Raj Rajaratnam, founder of Galleon Management.

Gupta filed a counter suit against the SEC claiming that his rights were breached because the agency filed the case against him in an administrative forum, not federal court. The SEC subsequently dropped that case in August.

Rajaratnam was found guilty of criminal charges in May and was sentenced to 11 years, the Times reports.

Read more from The Times here .

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