Gupta Ordered To Prison This Month

Jun 2 2014 | 6:29am ET

If Rajat Gupta is to see his insider-trading conviction overturned, he’ll have to do so from behind bars.

The former McKinsey & Co. chief, who was convicted in 2012 of passing confidential information about Goldman Sachs to Galleon Group founder Raj Rajaratnam, was ordered to begin his two-year prison term on June 17. A federal appeals court in New York on Friday rejected his request to remain free on bail pending his appeal to the U.S. Supreme Court.

Gupta served on Goldman’s board and was convicted of passing confidential information about the bank to Rajaratnam, who is serving an 11-year prison term himself. In March, Gupta’s conviction was upheld by the federal appeals court in Manhattan.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.