No Free Lunch On Wall Street? Who Makes This Nonsense Up!

[Guest ValueCarl]

Rajat K. Gupta, a former Goldman Sachs director and McKinsey & Company chief executive, surrendered to the Federal Bureau of Investigation on Wednesday morning to face charges of insider trading, the latest development in the government's multiyear crackdown on illegal activity on Wall Street.

 

In charging Mr. Gupta, the government will tie up one of the biggest loose ends resulting from the investigation into the Galleon Group, which began nearly five years ago at the Securities and Exchange Commission. Since then, more than two dozen people have pleaded guilty or been convicted of swapping illegal tips around company earnings and other major corporate events. Raj Rajaratnam, the Galleon co-founder, was sentenced to 11 years in prison this month for making tens of millions of dollars by trading on confidential tips.

 

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