SEC Obtains $13.9 Million Penalty against Rajat Gupta

The SEC obtained a $13.9 million penalty against former Goldman Sachs board member, Rajat K. Gupta, for illegally tipping corporate secrets to former hedge fund manager Raj Rajaratnam. In addition to receiving the penalty, Gupta is permanently barred from serving as an officer or director of a public company, and from associating with any broker-dealer, or investment adviser.

See: SEC Press Release. See also: SEC Obtains Final Judgment on Consent as to Raj Rajaratnam (December 27, 2012); SEC Charges Silicon Valley Executive for Role in Galleon Insider Trading Scheme (October 26, 2012).