Gupta Bail Bid Fails; Ex-McKinsey Chief To Prison Next Week

Jun 12 2014 | 9:54am ET

There will be no last-minute reprieve for convicted insider tipster Rajat Gupta before he reports to prison on Tuesday.

U.S. Supreme Court Justice Ruth Bader Ginsberg rejected the former McKinsey & Co. chief’s emergency plea to remain free on bail pending his appeal to the high court yesterday, just one day after he filed it. Ginsberg, who handles emergency requests from New York, did not explain her decision.

Gupta was convicted in 2012 of passing confidential information about Goldman Sachs to Galleon Group founder Raj Rajaratnam during his time as a member of Goldman’s board. He was sentenced to two years in prison, a term he is set to begin on June 17.

In his plea to Ginsberg, Gupta argued that he is likely to succeed on appeal to the nation’s highest court. The court has yet to consider whether to hear his appeal, but only accepts about 1% of the cases appealed to it.

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