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Westport’s Rajat Gupta Gets 2 Years For Insider Trading

by Vanessa Inzitari Police & Fire 10/24/12  Comment

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WESTPORT, Conn. – Rajat Gupta, the former board member of Goldman Sachs and Procter & Gamble who, in June, was found guilty of insider trading, was sentenced to two years in prison, The New York Times reports.

A retired executive at McKinsey & Company, Gupta, 63, was found guilty of leaking confidential information about Goldman Sachs to Raj Rajaratnam, a former friend and founder of Galleon Management, a hedge fund. Rajaratnam was convicted of insider trading in May and was sentenced to 11 years in prison.

In addition to his prison sentence, Gupta was ordered to pay a $5 million fine.

Read the full New York Times article here.

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