Rajat Gupta

Rajat Gupta, the former Goldman Sachs Group director convicted in a 2012 insider trading scheme tied to the Galleon Group LLC hedge fund, agreed to surrender to prison authorities on June 17 to begin a two-year sentence, a federal judge in Manhattan said. Gupta, 65, lost a bid for a new trial last month, when a three-judge appeals panel upheld his conviction. U.S. District Judge Jed Rakoff said in an order made public today that Gupta and prosecutors consented to the surrender date. [Bloomberg]

…and that $13.9 million in civil penalties, on top of the two years in prison he’s supposed to serve after being convicted of insider trading, plus the scratch he owes Goldman for sharing its material non-public information with a hedge fund friend, is taking things too far. Read more »

Apparently this came as a surprise to Rajat Gupta. Read more »

Which seems fair? Read more »

Insider-trading scams can be hard on a friendship. For instance, we doubt that Rajat Gupta has many warm feelings left for his old buddy Raj Rajaratnam. Nor, it seems, is he feeling particularly kindly towards he and Raj’s partner in private equity firm New Silk Road Partners.

Even facing two years in prison, the former McKinsey & Co. chief does not care to be screwed on a business deal. Which is what he says is happening, re: New Silk Road and his old buddy Parag Saxena. Read more »

  • 22 Jan 2013 at 5:41 PM

Rajat Gupta: My Buddy Raj is a Big, Fat Liar*

All things considered, Rajat Gupta would still prefer not to go to jail. Read more »

  • 17 Dec 2012 at 3:15 PM

Rajat Gupta Wants To See Goldman Beg For It

On a scale of 1 to 10, 1 being standard, 10 being elephantiasis, how big do you think the balls are on the guy who calls up a hedge fund manager 23 seconds after his meeting with fellow board members concludes to leak inside information about that company and then, after being convicted of securities fraud and conspiracy, tells the company, which paid his legal fees, he doesn’t owe them a dime? And that maybe if they put everything into an excel spreadsheet, he’ll think about tossing them a couple dollars, but probably not? Read more »