DAN­GER­OUS LI­AI­SON

India Today - - THE BIG STORY -

Trou­ble started in 2010 af­ter a probe in Ra­jarat­nam’s case hinted at Gupta’s role in in­sider trad­ing Oc­to­ber 16, 2009 Raj Ra­jarat­nam is ar­rested and charged in case de­scribed by prose­cu­tors as big­gest in­sider trad­ing scheme in­volv­ing a hedge fund.

April 15, 2010 Rajat Gupta’s name sur­faces in Ra­jarat­nam case, as WSJ re­ports fed­eral prose­cu­tors are in­ves­ti­gat­ing Gupta’s role in pro­vid­ing in­sider in­for­ma­tion on Gold­man Sachs.

March 1, 2011 US Se­cu­ri­ties and Ex­change Com­mis­sion ( SEC) files civil ad­min­is­tra­tive com­plaint against Gupta for in­sider trad­ing.

March 18, 2011 Gupta counter- sues SEC, ar­gu­ing its ac­tion de­prived him of a jury trial.

May 11, 2011 Ra­jarat­nam found guilty on all 14 counts of se­cu­ri­ties fraud and con­spir­acy.

Au­gust 2011 SEC and Gupta agree to drop ac­tions against each other.

Oc­to­ber 13, 2011 Ra­jarat­nam sen­tenced to 11 years in prison.

Oc­to­ber 26, 2011 Gupta is ar­rested and the US at­tor­ney’s of­fice files crim­i­nal charges against him. He is freed the same day on a $ 10 mn ( Rs 50 crore) bond se­cured by his West­port house. SEC again sues Gupta in a civil case.

May 21, 2012 Gupta’s crim­i­nal trial to com­mence.

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