Rajat Gupta (Former Goldman Sachs) Jailed

[Porker]

Former Goldman Sachs Group Inc. director Rajat Gupta was sentenced to two years in federal prison for leaking corporate secrets about the bank to a hedge fund at the height of the financial crisis.

The prison term imposed by U.S. District Judge Jed Rakoff in Manhattan marks a nadir for Mr. Gupta, who became the most prominent figure caught in the push against insider trading by criminal authorities. He was implicated in 2010 in the investigation of former Galleon Group chief Raj Rajaratnam, his friend and business associate.

 

His tip about Berkshire Hathaway Inc.'s impending investment to shore up Goldman during the crisis was "disgusting in its implications" and "a terrible breach of trust," said Judge Rakoff before he handed down the sentence. He added: "Others similarly situated to the defendant must

[Tatty]

there are so many insider going on

the problem is

it is difficult to catch and proof

 

 

 

[Wt_know]

2 years - holidays - good behaviour = chop chop

after that ... still got a high life and lots of money

[Wt_know]

2 years - holidays - good behaviour = chop chop

after release ... still got a high life and lots of money

Edited October 25, 2012 by Wt_know

[Tonyhawk]

2 years after, he walks out knowing he's tens, if not hundreds, of millions richer.

 

many others do time, for much much less.

 

hardly a deterrent, imo.

[Icedbs]

2 years - holidays - good behaviour = chop chop

after release ... still got a high life and lots of money

 

This guy got Bill Gates and Kofi Annan begging leniency for him.

 

 

 

 

[Enye]

the CNB guy should use this excuse

 

"reputation gone is worse punishment than jail"

 

to try to escape jail term

 

[Timbuktu]

2 years no enuf lah.

He deserves to be punished even more terok!

 

That Rajaratnam scoundrel ... even lagi more IMHO :angry:

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