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‘Rajat Gupta guilty of insider trading’

Former Goldman Sachs Group Inc board member Rajat Gupta was convicted on Friday on criminal charges of illegally tipping his hedge fund manager friend Raj Rajaratnam with corporate secrets.

A federal court jury in Manhattan found Gupta guilty of three counts of securities fraud and one count of conspiracy, ending the four-week-long trial. He was found not guilty on two other securities fraud charges.

Former Goldman Sachs Group Inc board member Rajat Gupta (L) arrives at Manhattan Federal Court in New York June 14, 2012. Credit: REUTERS

The jury delivered the verdict on the second day of its deliberations. - Reuters

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