U.S. Expected to Charge ex-Goldman Sachs Director Wednesday

According to the New York Times, federal prosecutors will file criminal charges Wednesday against former Goldman Sachs

Director Rajat K. Gupta. Gupta is expected to surrender to the authorities on Wednesday. His trial could mean the beginning in a new government offensive against insider trading and other securities violations. The government also might be gunning for a fresh face for the scandal ahead of the 2012 elections. Gupta is a former director of Goldman Sachs. He also was an executive for Procter & Gamble

and the McKinsey & Company. Gupta's case is tied in with the Raj Rajaratnam case. Rajaratnam was sentenced to more than a decade behind bars for insider trading; Gupta is believed to have leaked corporate secrets to Rajaratnam. More on this sensational case as it develops.