Tags: Insider Trading | Goldman Director

Ex-Goldman Director Sues SEC After Civil Charges

Friday, 18 Mar 2011 12:38 AM


A former Goldman Sachs board member has sued the Securities and Exchange Commission after the SEC linked him to a major insider trading case when it filed civil charges against him earlier this month.

Rajat Gupta said Friday in court papers that he denies all allegations of wrongdoing and "stands ready to mount a defense against each and every one of the commission's charges."

The SEC had filed an administrative action against Gupta. It says Gupta fed vital information about Goldman in 2008 to a one-time billionaire accused of insider trading within minutes of hearing confidential information from the Goldman board.

A federal prosecutor has said Gupta was a co-conspirator of a former hedge fund boss on trial in Manhattan.

The SEC did not immediately return a call for comment.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved