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WASHINGTON – The US markets regulator charged former Goldman Sachs and Procter & Gamble director Rajat Gupta on Tuesday with insider trading in a high-profile hedge fund case.
The Securities and Exchange Commission announced the charges for "illegally tipping Galleon Management founder and hedge fund manager Raj Rajaratnam with inside information about the quarterly earnings at both firms, as well as an impending $5 billion investment by Berkshire Hathaway in Goldman."