Gupta occasionally runs into his one time friend-turned foe Rajaratnam, also serving an 11-year prison term on insider trading charges in the same facility.
Rajat Gupta, 70, the first Indian managing director of McKinsey and who of 17 months in US prison for insider trading, gets ready to tell his side of the story. And he is less than complimentary about Preet Bharara, then the famous crusading US attorney for the Southern District of New York. "The jury, the press and the public saw only... a 'cropped picture', he says. For someone whose life story was a model of the Great American Dream - an Indian of modest means who rose to the highest circles of politics and business, mingling with the White House and Davos crowd - his indictment in 2012 marked a stunning fall from grace. Many ascribed it to the hubris of the rich and powerful, says Kanika Datta.
He will now have to submit to the two-year jail term handed down to him.
Gupta filed a 70-page petition with the US Court of Appeals for the Second Circuit yesterday seeking 'panel rehearing and rehearing en banc', saying in 'rejecting two of his challenges to the exclusion of critical evidence in his case, the panel misapprehended several points' about the insider trading case against him.
Rajat Gupta was convicted in 2012 of passing illegal tips about Goldman Sachs to Galleon Group founder Raj Rajaratnam.
Gupta began serving a two-year prison term on insider trading charges in June 2014.
Rajat Gupta was convicted in 2012 of passing confidential boardroom information to now jailed hedge fund founder Raj Rajaratnam.
Gupta, 66, is currently serving his prison term.
Gupta was convicted of passing confidential information.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
Puneeth Rajkumar was never trained in classical music, but he sang songs for his movies from the time he was a toddler!
Blankfein will at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam.
Gupta began serving a two-year prison term on insider trading charges
US District Judge Jed Rakoff had set as October 18 the date for sentencing Gupta after the ex-McKinsey head was found guilty by a jury here of passing confidential company information to Rajaratnam.
Testifying for the government on the eighth day of 63-year-old Gupta's insider trading trial yesterday, former marketing executive at Sri Lankan native Rajaratnam's Galleon hedge fund Ayad Alhadi disclosed that Gupta had been secretly serving as a Galleon executive.
Rajat Gupta, one of the most successful Indian Americans on the Wall Street, was on Friday found guilty of passing confidential market information to Galleon hedge fund founder Raj Rajaratnam, in one of America's biggest insider trading cases.
Former Goldman Director Rajat Gupta, the poster boy of Indians at the Wall Street, was on Friday found guilty of illegally tipping off his friend Raj Rajaratnam of confidential market information, in one of America's biggest insider trading cases.
He might have presided over assets worth billions of dollars, but Raj Rajaratnam will have to work for 12 to 17 cents an hour cleaning the kitchen or the toilet in prison.
The much-awaited trial of Raj Rajaratnam, founder of erstwhile Galleon Group, who has been indicted by Federal authorities in the biggest insider trading case on the Wall Street, began on Tuesday in Manhattan Federal Court.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Goldman Sachs' director Rajat Gupta tipped off Raj Rajaratnam, an accused in insider trading scam, about a deal between Buffett-led Berkshire Hathaway and the Wall Street giant, before the public announcement.
Indian-American Anil Kumar, a former director of consulting firm McKinsey, has pleaded guilty to fraud charges in the largest insider trading case in the Untied States' history, admitting that he got $1 million for giving secret information to its alleged ringleader Raj Rajaratnam.
In its complaint filed in 2011, the SEC alleged that Gupta disclosed confidential information about Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs
Rajaratnam, 52, founder of the Galleon Group, was indicted on October 16 for insider trading. The litigants have accused him of knowingly financing the LTTE and providing it with other forms of support through front organisations.
If convicted all of them face imprisonment of up to 20 years, according to the indictment, which reads that the defendants "routinely received inside information directly or indirectly from insiders and provided it to each other for the purpose of trading based on the information", filed in the US court.
Gupta's lawyer Seth Waxman argued his case during a hearing before a three-judge panel of the 2nd US Circuit Court of Appeals in New York on Monday.
He was convicted in his 2012 trial of passing confidential boardroom information to his one-time friend and business associate Raj Rajaratnam
His prison term is set to end on March 2016.
Gupta is scheduled to be released from prison in March, 2016.
In a lengthy-118 page submission to Supreme Court Justice Ruth Bader Ginsburg, Gupta requested to remain free on bail, saying he is not a flight risk and if an appeals court rules in his favour, he will 'likely' be entitled to a new trial.
Every accomplished major immigration group in America has had its heroes and fallen heroes.
Instrumental music played by maestros like Ustad Bismillah Khan, TN Rajaratnam Pillai and Pandit Pannalal Ghosh will keep passengers entertained in Rajdhani, Shatabdi and Duronto trains which have a public announcement system in place.
The former employer incurred the amount as legal expenses during the trial.
She was also ordered to pay $1.5 million in forfeiture.
According to the email, Kumar said, "When with Mukesh on portfolio question. . . 2 things to explore: A) Raj wants to know if they will get into the solar biz aggressively and when (there are implications for supplier companies etc)."
The 15-page judgment is amazingly lucid, elegant and balanced.
A US judge has asked prosecutors to provide specific financial benefits they allege former Goldman Sachs director Rajat Gupta made by passing inside information to his friend Raj Rajaratnam amidst allegations that he also tipped him about Proctor and Gamble's 2008 sale of Folgers Coffee Co to JM Smucker.
Executive is facing probe for allegedly leaking confidential information to former Galleon Group co-founder Raj Rajaratnam.
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
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