Westport man charged with insider trading

Federal regulators have charged a Westport man with insider trading.

Rajat Gupta is a former board member of Goldman Sachs.

He's accused of giving confidential information to the founder of the Galleon Group hedge fund.

Prosecutors are calling it the largest hedge fund insider-trading probe ever.

They say the tips generated more than $18 million in illicit profits and losses.

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