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.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...