Goldman sachs former Director Rajat Gupta in the case of insider trading, a U.S. Court has sentenced two years imprisonment and a fine of $ 50 million on him. During the hearing in court. the prosecution has sought imprisonment of eight to ten-year-for Gupta's. In the America's business history this was the biggest case of insider trading in which Rajat Gupta was sentenced. Around a years ago U.S. prosecution lawyers Prit Bharara filed papers in court against the accused in Mainhanttan. Arrest of former Goldman Sachs Director Rajat Gupta stunned the Wall Street.
Gupta was ex-Director of global investment bank Goldman Sachs and Proctor & Gamble an us FMCG company. He used his position and provided confidential information to hedge funds Gallion of both companies. Due to this founder of fund Raja Rajnatnam earned $ 1.8 million illegal profits. The U.S. Security & Exchange Commission (sec) charged that Rajat Gupta is friend and business affiliate of Rajaratnam.
