Ex-Goldman Exec Pleads Not Guilty

Raj Rajaratnam may have company soon. Rajat Gupta, the former director of Goldman Sachs and Procter & Gamble, has pleaded not guilty to charges of insider trading. Gupta was freed on $10 million bail, though he must remain in the U.S. before his April 9 trial. Earlier Wednesday, he surrendered to federal authorities and was indicted on charges of insider trading: one count of conspiracy to commit securities fraud and five counts of securities fraud. The charges relate to the investigation into Rajaratnam's hedge fund Galleon Group, and the SEC has already filed an administrative proceeding against Gupta accusing him of passing confidential information about Goldman Sachs to Rajaratnam. Gupta's lawyers called the charges "totally baseless."