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Rajat Gupta To Pay $ 6.2 m (Re. 34 Cr.) To Goldman In Legal Fees

FEBRUARY 26, 2013

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Rajat Gupta, ex- director of Goldman Sachs, has been asked to pay $ 6.2 million (Re. 34 Crore) as legal expenses to his former employer in the insider trading case.
Gupta, 64, was sentenced to two years jail after his conviction in the case. Galleon founder Raj Rajaratnam, is also serving an 11-year term in one of the biggest insider trading cases in US history.




Goldman had sought $ 6.9 million as reimbursement from Gupta, who did not contest it in the court. After reviewing the firm's billing records, Judge Rakoff slashed the bill by 10 % saying that there were some extraneous entries made by Goldman Sachs.


In 2008, Gupta's personal net worth was $ 84 million (Re. 46.2 Crore). Apart from the $6.2 million fine, his legal bill runs into more than $ 30 million (Re. 16.5 Crore).



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