Gupta Sentencing To Come A Day Early

Aug 28 2012 | 10:44am ET

Convicted Galleon Group tipster Rajat Gupta may have one fewer day of freedom.

The former McKinsey & Co. chief, convicted in June of passing confidential information to Galleon founder Raj Rajaratnam, was to be sentenced on Oct. 18. Instead, he'll learn his fate a day earlier, U.S. District Judge Jed Rakoff said yesterday.

In his order, Rakoff said the rescheduling was made with "the consent of the parties."

Gupta faces up to 20 years in prison on each of the three securities fraud convictions and up to five years on the conspiracy conviction. Rajaratnam was sentenced to 11 years in prison.

Gupta was convicted of passing his longtime friend and business partner tips about two companies on whose boards he sat, Goldman Sachs and Procter & Gamble.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...