81 Tests, 2019 Articles
and counting ...

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

PUBLISHED BY: SURENDER KUMAR
FEBRUARY 26, 2013

   
  submit to reddit   Delicious   Digg   LinkedIn  

 


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).

 



ARCHIVES -- CURRENT AFFAIRS

Tell Us About gkmine.com

We Listen ...


Fortnightly Contest


... WIN Exciting Prizes ...

item-pointer Coming Soon ...

... Previous Winners ...