Tuesday, 24 May 2016
Last updated 16 hours ago
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.