Tuesday, March 1, 2011

Obama Buddy Rajat Gupta Charged With Massive Insider Trading

Rajat Gupta attended President Obama's first state dinner in honor of the Prime Minister of India. He is a big money donor to Democrats. Gupta undoubtedly hit it off with Obama as soon as they met. He is a native of Kolkata, a Communist-run city in Eastern India.
(AP)- Federal regulators have charged a former Goldman Sachs board member with insider trading, saying he gave confidential information to the key figure in what prosecutors call the largest hedge fund insider-trading probe ever.

The Securities and Exchange Commission announced the civil charges against Rajat Gupta on Tuesday. The SEC said Gupta told Raj Rajaratnam, founder of the Galleon Group hedge fund, that Warren Buffett's Berkshire Hathaway planned to invest $5 billion in Goldman before it was publicly announced at the height of the financial crisis.
 Insider Trading

No comments: