Rajat Gupta ran McKinsey for a decade and was then a board director at Goldman Sachs and Proctor & Gamble. Now this examplar of the financial elite is on trial for insider trading, accused of passing price sensitive information from board meetings of Goldmans and P&G to former hedge funder Raj Rajaratnam.
As we covered at the time, Mr Rajaratnam last October received the longest ever prison sentence for insider trading in US history.
The New York Times Dealbook has a lengthy feature piece on the start of the trial. The prosecution is being led by high-profile US attorney Preet Bharara – who is yet to lose an insider trading trial – and being presided over by superstar corporate law judge Jed Rakoff.
