Wednesday, October 26, 2011

Obama Supporter Surrenders to Face Insider Trading Charges

Amazing how many of Obama's donors keep winding up under indictment, isn't it?
Rajat K. Gupta, a former Goldman Sachs director and McKinsey & Company managing director, surrendered to the Federal Bureau of Investigation on Wednesday morning to face charges of insider trading, the latest development in the government’s multiyear crackdown on illegal activity on Wall Street.

In charging Mr. Gupta, the government will tie up one of the biggest loose ends resulting from the investigation into the Galleon Group, which began nearly five years ago at the Securities and Exchange Commission. Since then, more than two dozen people have pleaded guilty or been convicted of swapping illegal tips around company earnings and other major corporate events. Raj Rajaratnam, the Galleon co-founder, was sentenced to 11 years in prison this month for making tens of millions of dollars by trading on confidential tips.
Rajaratnam is one of Obama's billionaire pals who also has some messy terror connections.

Of course the Times won't mention any connection to Obama. But we will.
The Indian-born, Harvard-educated Gupta also has served on the boards of Procter & Gamble and the parent company for American Airlines. He was a guest at President Barack Obama's first state dinner.
Naturally, he found himself a guest at a state dinner because of his generous supporter for Obama and his party.

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