Bloomberg News

Gupta Prosecutors Add One Alleged Tip Claim to Prosecution

April 10, 2012

Rajat Gupta, the former Goldman Sachs Group Inc. (GS:US) director charged with passing inside tips to convicted Galleon Group Inc. co-founder Raj Rajaratnam, faces a new claim involving a quarterly sales forecast for Procter & Gamble Co. (PG:US), U.S. prosecutors said in a court filing.

Prosecutors filed an amended bill of particulars today providing details about the alleged tips they plan to prove Gupta provided in their case against him.

Gupta tipped Rajaratnam and their unnamed coconspirators about “P&G’s organic sales growth forecast for the October- December quarter prior to P&G’s public announcement on or about Dec. 11, 2008,” according to today’s filing in federal court in Manhattan.

Gupta, the one-time McKinsey & Co. leader, was charged by Manhattan U.S. Attorney Preet Bharara’s office in October. He pleaded not guilty and is scheduled to go on trial May 21.

“As we have stated from the onset, the government’s allegations are totally baseless,” Gupta’s lawyer, Gary Naftalis, said in a statement today. “The facts in this case demonstrate that Mr. Gupta is innocent of all of these charges, and that he has always acted with honesty and integrity.”

The case is U.S. v. Gupta, 11-907, U.S. District Court, U.S. District Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Bob Van Voris in New York at rvanvoris@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net


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Companies Mentioned

  • GS
    (Goldman Sachs Group Inc/The)
    • $195.89 USD
    • 0.39
    • 0.2%
  • PG
    (Procter & Gamble Co/The)
    • $93.14 USD
    • -0.15
    • -0.16%
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