Tuesday, 7 July 2015
Last updated 17 hours ago
Jun 18 2014 | 9:49am ET
Convicted of assisting his longtime friend Raj Rajaratnam in his $60 million insider-trading scheme, former McKinsey & Co. chief Rajat Gupta reported to a federal prison camp yesterday to begin his two-year sentence.
Gupta arrived at the Devens, Mass., prison before his 2 p.m. deadline, the federal Bureau of Prisons confirmed. The facility where Gupta will do his time is adjacent to the medical lockup that houses Rajaratnam, who is serving an 11-year sentence.
Gupta was convicted two years ago of passing confidential information about Goldman Sachs, on whose board he served, to Rajaratnam. His is likely to be released some time next year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…