TNI Bureau: Former Wall Street expert Rajat Gupta was sentenced to two years in jail by a New York court in connection with the insider trading crimes. He was also ordered to pay a fine of $5 million. Gupta apologised to all his friends, colleagues and family members for the crime he committed.
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Rajat Gupta was found guilty of leaking Goldman Sachs boardroom secrets to Raj Rajaratman, the hedge fund manager. Gupta’s reputation was damaged beyond repair with this development.
He worked as a philanthropist in the last one decade and earned accolade across the globe. Business and industry analysts were taken aback when the revealations about his crime were made public.