January 01, 2026 07:07 am (IST)
Follow us:
Rajat Gupta, former director of Goldman Sachs, released from jail
New York, Mar 14 (IBNS) Rajat Gupta, the former director of Goldman Sachs, who was found guilty of insider trading and was serving a two-year prison term, was released on Mar 11, according to media reports.
Gupta's prison term was to end on Mar 13, which being a Sunday, he was released on Friday.
During his 2012 conviction, he was also fined US$5 million and the Securities and Exchange Commission asked him to a pay a penalty of US$13.9 million.
Gupta, 67, was accused of passing confidential information -- about Berkshire Hathaway Inc.’s $5 billion investment in the bank and its financial results -- to his friend and associate Raj Rajaratnam, co-founder of the Galleon Group LLC hedge fund, according to media reports.
After being convicted, Gupta had made several appeals, including to the US Supreme Court, to overturn his conviction and prison term but did not meet with any success.
Gupta served 19 months in federal prison in Massachusetts and was freed in Feb after receiving credit for good behaviour against his 30-month sentence; Gupta completed the last two months of his prison term at his home in Manhattan but as a federal inmate had to wear an ankle bracelet so that his movements could be monitored.
On Feb 4, 2016, the US Second Circuit Court of Appeals agreed to rehear an appeal to throw out his insider-trading conviction.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
S Jaishankar meets Khaleda Zia’s son Tarique Rahman, hands him PM Modi's condolence letter
Wed, Dec 31 2025
‘Vote theft is in electoral rolls, not EVMs’: Abhishek Banerjee leads TMC charge against EC over Bengal voter re-verification
Wed, Dec 31 2025
Faridabad horror: Woman gang-raped in moving van for over two hours, thrown on road
Wed, Dec 31 2025
2025: An Unsettled World—and an India at the Crossroads
Wed, Dec 31 2025
No third party involved: India govt sources refute China’s Operation Sindoor ceasefire claim
Wed, Dec 31 2025
Final goodbye to Khaleda Zia: Jaishankar flies to Dhaka for funeral
Wed, Dec 31 2025
NRI dies in accidental gun discharge at home in Punjab’s Firozepur
Tue, Dec 30 2025