The former head of McKinsey & Co., Rajat K. Gupta, was charged with insider trading in a civil administrative proceeding filed by the SEC’s Division of Enforcement on Tuesday.

Gupta, a former director at Goldman and Procter & Gamble, provided improper tips to Galleon Group founder Raj Rajaratnam about companies in which he was a board member, including a $5 billion investment in Goldman Sachs by Warren Buffett’s Berkshire Hathaway, according to the SEC.

Source : WSJ