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Westport's Rajat Gupta Loses Bid To Delay Prison Time For Insider Trading

Westport resident Rajat Gupta was denied a request to delay his prision sentence while he appealed his conviction.
Westport resident Rajat Gupta was denied a request to delay his prision sentence while he appealed his conviction. Photo Credit: File

WESTPORT, Conn. -- An effort by Westport resident Rajat Gupta, a former board member of Goldman Sachs, to remain free on bail while he appeals his conviction on conspiracy and securities fraud was rejected Wednesday, June 11, by U.S. Supreme Court Justice Ruth Bader Ginsburg, according to Businessweek.

Gupta, who was found guilty in 2012 for providing illegal tips to Raj Rajaratnam, a co-founder of Galleon Group, must report to federal prison in Otisville, N.Y., on Tuesday, June 17, to begin serving his two-year sentence, Businessweek said.

Gupta will not exercise his option to submit his application to another Supreme Court Justice. He is, however seeking a Supreme Court review of his case, which could take place as early as next week, Businessweek reported.

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