A former Goldman Sachs director submitted to federal authorities to face criminal charges originating from a massive hedge fund insider trading case, according to the Huffington Post.
The Securities and Exchange Commissioner . The SEC says Gupta, 62, fed information to friend and business associate Raj Rajaratnam, of Galleon Group, a former billionaire hedge fund manager who was the prime target of the criminal probe.
Gupta served on the board of directors at Goldman Sachs and Proctor & Gamble when he allegedly passed along privileged financial insider information about quarterly earnings and an impending $5 billion investment by Berkshire Hathaway in Goldman Sachs, which helped enrich Rajartnam.
, according to the SEC. He resigned in March from Proctor & Gamble. He also no longer serves on the Goldman Sachs board.
Gupta lives in an eight-bedroom mansion on a vast 2.28 acre property on Beachside Avenue in Westport. His property, which he purchased in 1999, is appraised at $12.5 million.