Ex-Goldman board member indicted in insider case
By TOM HAYS, Associated Press
Oct 26, 2011 10:13 AM CDT
FILE - In this Jan. 3, 2009 file photo, Rajat Kumar Gupta, former Chairman of Global Fund to Fight AIDS, Tuberculosis and Malaria, listens to a statement, during a session at the World Economic Forum in Davos, Switzerland. Gupta, former Goldman Sachs board member, surrendered to federal authorities...   (Associated Press)

A federal court in New York City has unsealed a six count indictment charging a former Goldman Sachs board member with insider trading.

The charges against Rajat Gupta were unsealed in federal court in Manhattan after he surrendered Wednesday morning.

The charges accuse him of engaging in an insider trading scheme with Raj Rajaratnam, a former billionaire hedge fund manager who was the prime target of the probe

The 62-year-old Gupta is awaiting an appearance at the federal court.

He's charged with one count of conspiracy to commit securities fraud and five counts of securities fraud.

The charges carry a potential penalty of 105 years in prison.