Accused Ex-Goldman Director Quits Gates Foundation Advisory Post
March 28, 2011
A former Goldman Sachs director accused by the federal government of insider trading has given up his advisory role with the Bill & Melinda Gates Foundation, reports Bloomberg News.
The foundation said Sunday that Rajat Gupta has stepped down as chairman of its advisory panel on global development “until these matters are resolved,” referring to the government inquiry.
The Securities and Exchange Commission alleges Mr. Gupta passed inside information about Goldman to Raj Rajaratnam, a hedge-fund manager now standing trial on insider-trading charges. Mr. Gupta and Mr. Rajaratnam have denied wrongdoing.
