Former Procter & Gamble Director Rajat Gupta, who was indicted last year for insider trading, illegally tipped now-convicted hedge fund manager Raj Rajaratnam about P&G’s 2008 sale of Folgers Coffee Co. to JM.Smucker Co., federal prosecutors said.

JM Smucker, the Ohio-based maker of jams and other food products, bought Folgers for about $3 billion in June 2008.

Gupta, 63, was charged with five counts of securities fraud and one count of conspiracy to commit securities fraud.