December 23, 2025 01:45 pm (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
Delhi erupts over lynching of Hindu man in Bangladesh; protest outside High Commission
Tue, Dec 23 2025
Assam on a ‘powder keg’: Himanta Biswa Sarma flags demographic shift, Chicken’s Neck fears
Tue, Dec 23 2025
‘Huge gains ahead!’ New Zealand PM Luxon celebrates game-changing trade deal with India
Tue, Dec 23 2025
After BJP’s Maharashtra local poll gains, Sanjay Raut reaches out to Rahul Gandhi as BMC stakes rise
Mon, Dec 22 2025
'Flights of political fancy': BJP dismisses Sonia Gandhi’s G RAM G critique as ‘mischaracterisation’
Mon, Dec 22 2025
‘If you earn here, learn Hindi’: Delhi BJP councillor's ultimatum to African coach sparks outrage
Mon, Dec 22 2025
S. Jaishankar to visit Sri Lanka tomorrow. What's on agenda
Mon, Dec 22 2025