Rajat Gupta, Insider Trader Who Peddled Goldman Secrets to His Buddy, Gets Two Years
Rajat Gupta, a key player in one of the biggest insider trading scandals in memory, helped his business partner/friend Raj Rajaratnam (at right), earned multiple millions of dollars and avoid losses. As a board member for Goldman Sachs, he leaked confidential information repeatedly over a period of years.
In 2008, for example, he told Rajaratnam, the president of the Galleon Group, that the board had approved a $5 billion investment by Berkshire Hathaway, and later that year, that Goldman was losing money for the quarter.
And his prison sentence? 20 years? 10 years? Nope. Just two years, according to a statement by the U.S. Attorney's office. He still has to pay a $5 million fine.
Rajaratnam was sentenced in October, 2011 to 11 years in prison and fined $63 million.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss Village Voice's biggest stories.
- "Convicting Peter Liang is not a conviction of the NYPD," prosecutor concludes
Fri., Feb. 12, 7:00pm
Sun., Feb. 14, 12:30pm
Sun., Feb. 14, 2:00pm
Sun., Feb. 14, 7:30pm
- Group for Homeless LGBT Youth Moves a Step Closer to Buying Terrible Anti-Gay Church...
- Voice Letters: Readers Share Their Energy Service Company Horror Stories