EX GOLDMAN DIRECTOR INDICTED FOR INSIDER TRADING PLEADS NOT GUILTY

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Rajat Gupta the former Director of Goldman Sachs and Proctor & Gamble was indicted on charges of insider trading and freed on $10 million bail. Gupta was indicted on conspiracy to commit securities fraud and five counts of securities fraud. The SEC had already filed an administrative proceeding against Gupta accusing him of passing confidential information about Goldman Sachs to Raj Rajaratnam, former Founder of The galleon Group. Rajaratnam was sentenced to 11 years in prison for insider trading last week based on a guilty finding at a jury trial on insider trading.