So Rajat K. Gupta, the ex boss of McKinsey & Co. and a former Goldman Sachs board member, was arrested today, and charged with being a friend of hedge fund bigshot Raj Rajaratnam. Well, that's not how the indictment read exactly. Officially, the allegations are conspiracy to commit securities fraud, plus five counts of securities fraud. Gupta faces up to 20 years in prison on each fraud charge.