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Rajat Gupta Sentenced To 2 Yr Jail, Fined $ 5 Million

PUBLISHED BY: SURENDER KUMAR
OCTOBER 25, 2012

   
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Rajat Gupta, the fallen icon and former Goldman Sachs board member has been sentenced to 2 years prison for feeding inside information to a billionaire hedge fund owner Raj Rajaratnam.

 

 


It is being seen as a relief fior the ex-McKinsey CEO as the widespread belief was that he would get a much longer sentence, as had been argued by the prosecution. Rajat Gupta was also ordered to pay a $5 million fine. The Harvard-educated businessman long respected on the Wall Street was a big catch for the federal government in its crackdown on insider trading

 

 

The judge said that a prison sentence was warranted to send a message that when you get caught, you will go to jail. Rajaratnam is already serving an 11-year prison sentence after his conviction last year.

 

 





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