Tuesday, 5 May 2015
Last updated 10 hours ago
Feb 26 2013 | 2:27pm ET
Facing two years in prison, former McKinsey & Co. chief Rajat Gupta now also faces a big legal bill: Goldman Sachs'.
A federal judge this week ordered Gupta to pay the bank $6.2 million, reimbursing it for its most of its legal expenses related to his insider-trading case. Gupta was a board member at Goldman and was convicted of passing confidential information about the bank to Galleon Group founder Raj Rajaratnam.
Goldman had sought almost $6.9 million. U.S. District Judge Jed Rakoff, who sentenced Gupta to two years in jail, shaved off some of that total when "the number of attorneys staffed on a task… exceeded what was reasonably necessary." But he said that Gupta offered no "colorable challenges" to their "veracity."
Gupta remains free on bail while he appeals his conviction.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…