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Galleon inquiry moves beyond Street

Federal charges against Gupta likely today

Rajat Gupta, a trusted adviser to many business leaders, is expected to surrender to authorities today. Rajat Gupta, a trusted adviser to many business leaders, is expected to surrender to authorities today. (Paulo Filgueiras/UN/via Bloomberg)
New York Times / October 26, 2011

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Federal prosecutors are expected to file criminal charges today against Rajat K. Gupta, the most prominent business executive ensnared in an aggressive insider trading investigation, according to people briefed on the case. The case against Gupta, 62, who is expected to surrender to the authorities Wednesday, would extend the reach of the government’s inquiry into America’s most prestigious corporate boardrooms. Most of the defendants charged with insider trading over the past two years have plied their trade exclusively on Wall Street.

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