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.
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.