Rajat Gupta

Rajat Gupta to report to jail today to begin 2-year sentence

Rajat GuptaNew York: India-born former Goldman Sachs Director Rajat Gupta will Tuesday report to a prison in Massachusetts to begin his two-year sentence for insider trading, after having fought an over three-year long legal battle with all his might to clear his name.

65-year-old Gupta, once regarded as among the most powerful and influential in corporate America, will serve his jail term at a minimum security satellite camp of the Federal Medical Center-Devens in Ayer, Massachusetts.

U.S. appeals court upholds ex-Goldman director Gupta’s insider trading conviction

U.S. appeals court upholds ex-Goldman director Gupta’s insider trading convictionFormer Goldman Sachs Group Inc Director Rajat Gupta suffered a tough blow in long-running insider trading case on Tuesday after a U. S. federal appeals court upheld his conviction and two-year prison term for securities fraud & conspiracy.

The 2nd U. S. Circuit Court of Appeals turned down Gupta's claim that the court should not have admitted wiretap evidence to determine that he had leaked information about Goldman's finances via phone to Galleon hedge fund founder Raj Rajaratnam.

SEC seeking upholding of lifetime ban on Gupta

Rajat GuptaThe US Securities and Exchange Commission (SEC) has asked the appeals court to uphold a judgement by a district court that banned former Goldman Sachs director Rajat Gupta for life from serving as director of a public corporation and imposed a penalty of $13.9 million.

The regulator has said asked the US Court of Appeals for the Second Circuit to uphold the decision of the lower court saying that court acted well within its discretion by banning the India-born trader from associating with brokers, dealers, and investment advisors or serving as an officer or director of a public company.

Rajat Gupta ordered to reimburse $6.22 to Goldman Sachs

Rajat Gupta ordered to reimburse $6.22 to Goldman Sachs Goldman Sachs Group Inc's former director Rajat Gupta is liable to reimburse $6.22 million to the investment bank to allow the bank to cover its legal expenses related to his insider-trading case, a federal judge ruled on Monday.

Last year, 64-year-old Gupta was convicted of sharing confidential information he had learned at the bank's board meetings with hedge-fund manager and his friend Raj Rajaratnam. He also exposed a $5 billion investment by Warren Buffett-owned Berkshire Hathaway Inc. at the peak of the economic slump.

Ex-Goldman Sachs director Rajat Gupta to remain free during appeal

Ex-Goldman Sachs director Rajat Gupta to remain free during appealA US appeals court on Tuesday granted former Goldman Sachs director Rajat Gupta's request to stay free on bail the appeal of his insider trading conviction.

India-born 63-year-old Gupta, who was arrested in October last year on insider trading charges, was to start his two-year prison sentence on 8th of January.

SEBI lacks powers to deal with insider trading

SEBI lacks powers to deal with insider tradingA US judge on Thursday slapped Indian-American Wall Street titan Rajat Gupta with two years in prison and a fine of $5 million for insider trading. The development once again raised questions why Indian capital market regulator SEBI often fails to deal with such cases with an iron hand.

SEBI has been making attempts to crack down on insider trading for a long time, but it has so far hardly achieved any major success. Experts accuse the lack of strict punishments for economic offences in the country and the lack of adequate powers in the hands of the market regulator for low level of success.

Rajat Gupta gets 2 years in prison; fined $5 million

Rajat Gupta gets 2 years in prison; fined $5 millionA US District Court on Wednesday slapped former Goldman Sachs director Rajat Gupta with a fine of $5 million plus a jail term of two years for insider trading crimes.

Indian-born Gupta, who currently lives in Westport, Connecticut, was ordered to surrender to federal prison authorities by 8th of January.

The Harvard-educated 63-year-old Gupta was found guilty of disclosing inside information about Goldman Sachs board dealings with one of his friends - Sri Lanka-born Raj Rajaratnam, the owner of a hedge fund.

Gates, Annan write to Judge ahead of Gupta sentencing

Gates, Annan write to Judge ahead of Gupta sentencingBill Gates and Kofi Annan and several others have written a letter to the US District Judge Jed Rakoff to show some fairness in the sentencing of former Goldman Sachs Group Inc board member Rajat Gupta scheduled for October 24.

"I know most personally that the poor of the world have a profoundly capable and articulate advocate in Rajat Gupta," wrote Gates. Annan, who was UN Secretary General from 1997-2006, wrote that he has worked with Mt. Gupta on several projects and described him as a good friend.

Jury wanted Gupta to go free but evidence against him was ‘overwhelming’

Jury wanted Gupta to go free but evidence against him was ‘overwhelming’The jury looking into the case of Indian-American, Rajat Gupta has said that it wanted Mr. Gupta to be a free man after the trial but his "need for greed" was just too "overwhelming" and there was sufficient evidence against him.

Judge yet to decide if email to be used as evidence in Rajat Gupta case

Judge yet to decide if email to be used as evidence in Rajat Gupta caseA US judge is yet to decide whether an e-mail should be used as evidence in the trail of former Indian-American chief executive of McKinsey & Co, Rajat Gupta.

Prosecutors have demanded in the court documents submitted on Monday that an April 3, 2008, email, which is relating to Reliance Industries chairman Mukesh Ambani, should be accepted as evidence of the close relationship between Rajat Gupta and Raj Rajaratnam.

Raj Rajaratnam released on bail of $10 million

Raj Rajaratnam released on bail of $10 millionRajat Gupta, who was the former director at Goldman Sachs and Procter & Gamble, has been released on a bail of $ 10 million in the US. The court in the US has set a date of April 9, 2012 for trail.

Rajat Gupta was freed after he pleaded not guilty to charges of securities fraud and that he passed insider information to his friend Raj Rajaratnam, who is a billionaire businessman.

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