Rajat K.Gupta, a former top executive at McKinsey & Co. and Goldman Sachs director, is expected to face federal charges on Wednesday, according to multiple news outlets. The specific charges weren't reportedly disclosed yet, but The Wall Street Journal, citing sources familiar with the matter, says the "62-year-old Mr. Gupta is expected to surrender to the Federal Bureau of Investigation Wednesday on criminal charges of leaking inside information to Galleon Group hedge fund founder Raj Rajaratnam." In what was deemed the longest ever sentence for insider trading, Rajaratnam was sent to prison for 11 years last week. Dealbook has more on how Gupta was linked to Rajaratnam in the investigation:

His name emerged just a week before Mr. Rajaratnam’s trial in March, when the Securities and Exchange Commission filed an administrative proceeding against him. The agency accused Mr. Gupta of passing confidential information about Goldman Sachs and Procter & Gamble to Mr. Rajaratnam, who then traded on the news.

The details were explosive. Authorities said Mr. Gupta gave Mr. Rajaratnam advanced word of Warren E. Buffett’s $5 billion investment in Goldman Sachs during the darkest days of the financial crisis in addition to other sensitive information affecting the company’s share price.

At the time, federal prosecutors named Mr. Gupta a co-conspirator of Mr. Rajaratnam, but they never charged him.

In response to the expected charges on Wednesday, Gupta's lawyer told the Associated Press that the allegations are "totally baseless."