WESTPORT, Conn. – Westport resident Rajat Gupta, a retired executive at McKinsey & Company and former board member of Goldman Sachs and Procter & Gamble, was found guilty of conspiracy and securities fraud Friday at federal court in Manhattan, The New York Times reports.
Specifically, Gupta was found guilty of releasing confidential information about Goldman Sachs to Raj Rajaratnam, a former friend and founder of Galleon Management, The Times reports. He was also found guilty of conspiring with Rajaratnam, who was convicted of insider trading in May 2011 and sentenced to 11 years in prison.
Gupta faces a maximum of 25 years in prison. He is scheduled for sentencing in October, according to the Times. The conviction comes more than a year after initial charges were brought against Gupta.
Read the full New York Times report here.