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AP: Man to surrender in NY insider trading case

AP sources: Ex-Goldman Sachs board member to surrender in NY insider trading case By The Associated Press

NEW YORK (AP) ' A former Goldman Sachs board member linked to a massive hedge fund insider trading case is set to surrender to face criminal charges in New York City.

Two people with inside knowledge of the case confirm Rajat Gupta intends to surrender Wednesday but decline to say what the charges are. They spoke to The Associated Press on condition of anonymity Tuesday because the charges hadn't been formally announced.

Gupta's name played prominently at the trial of former hedge fund titan Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm), convicted this year on insider trading charges. Jurors heard wiretaps of the men discussing what prosecutors portrayed as inside information about Goldman Sachs.

Rajaratnam got 11 years in prison after seeking leniency. Gupta's defense lawyer says allegations against his client are "totally baseless."

The FBI and the U.S. attorney's office have declined to comment.

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