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Wall Street icon denies insider trading

Indictment states Gupta passed on confidential data

Rajat Gupta, a former Goldman Sachs and Procter & Gamble director (center), was indicted in federal court in New York yesterday on charges of conspiracy and securities fraud. Rajat Gupta, a former Goldman Sachs and Procter & Gamble director (center), was indicted in federal court in New York yesterday on charges of conspiracy and securities fraud. (Scott Eells/Bloomberg News)
By Larry Neumeister and Tom Hays
Associated Press / October 27, 2011

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A former board member of Goldman Sachs and Procter & Gamble pleaded not guilty Wednesday to federal charges accusing him of acting as “the illegal eyes and ears in the boardroom’’ for a friend, a billionaire hedge fund founder sentenced this month to 11 years in prison in the biggest insider trading case in history.

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