Ex-Goldman Sachs director Rajat Gupta has turned himself in to the FBI and pleaded not guilty in court to securities fraud before being freed on US$10 million ($12.4 million) bail.
The indictment of the biggest fish yet in a growing insider trading scandal reverberated around Wall Street, where more than 50 fraudsters have been netted since 2009 in an intensifying crackdown by prosecutors.
Gupta's appearance in a Manhattan courtroom was a stunning turnaround for the former managing director of consulting powerhouse McKinsey & Co - a corporate giant who sat on the boards of Goldman Sachs and Procter & Gamble.
Gupta was charged with five counts of securities fraud and one of conspiracy to commit fraud.
- AAP
