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Ex-McKinsey Boss Fate To Be Sealed Today; 8-10 Yr Jail Likely

OCTOBER 25, 2012

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Rajat Gupta, former Goldman Sachs director, is to receive the sentence on Wednesday by a US judge on insider trading charges after the court had pronounced him guilty of passing boardroom secrets to hedge fund founder Raj Rajaratnam.




His sentencing follows after India-born attorney Preet Bharara aggressively pursued insider trading charges against the former McKinsey head. Gupta, the most high profile executive to be convicted so, is seeking leniency, citing his otherwise unblemished career and philanthropic work.


His lawyer Gary Naftalis has sought probation for him, saying that he is willing to work on health care and agricultural initiatives in Rwanda. But Preet Bharara, the public prosecutor, is seeking a prison term of 8-10 years, arguing that his "shocking" crimes were not an isolated occurrence or a judgment error and a significant prison term is in order to reflect the seriousness his crimes and to deter others in from stealing corporate secrets and engaging in a crime.



A maximum prison sentence of 25 years, though unlikely, stares him in the face but the judge is likely to hand out a much shorter term of 8-10 years.



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