Former Goldman Sachs director Rajat Gupta was released today on USD 10 million bond after he pleaded not guilty to offences that carry a potential penalty of 105 years in prison.

Rajat Gupta was arrested on charges of sharing confidential information about investments at Goldman Sachs with hedge fund manager Raj Rajaratnam, the Sri Lanka born founder of Galleon Group, who is already in jail for 11 years for insider trading scam.

He is charged with one count of conspiracy to commit securities fraud and five counts of securities fraud. He faces a maximum penalty of five years in prison on the conspiracy charge and 20 years in prison on each of the securities fraud charges.

If found guilty, Gupta faces a cumulative jail term of 105 years.

Gupta surrendered earlier before the FBI on Wednesday at its Manhattan office.

The Goldman Sach Group is an American multinational investment banking and security firm