Rupert Murdoch's WSJ reports: One percenter busted

[Guns Guns Guns]

Rajat Gupta's four-decade journey from India to the upper echelons of American business and a board seat at Goldman Sachs Group Inc GS +1.96% . ended after less than 10 hours of deliberation by a federal jury, which convicted him of insider trading.

The verdict caps the fall of the most prominent figure caught in the government's drive to stop the leaking of corporate secrets to Wall Street.

The U.S. said Mr. Gupta, 63 years old, once one of America's most-respected corporate directors, was motivated not by quick profits but rather a lifestyle where inside tips are the currency of friendships and elite business relationships.

Gupta, who is also a former head of McKinsey & Co., faces up to 20 years in prison on each of the fraud charges and up to five years for the conspiracy charge.

But his sentence is likely to be significantly lower under federal guidelines.

Sentencing is set for Oct. 18.



http://online.wsj.com/article/SB10001424052702303822204577468470878668722.html

 

[Don Quixote]

Rajat Gupta's four-decade journey from India to the upper echelons of American business and a board seat at Goldman Sachs Group Inc GS +1.96% . ended after less than 10 hours of deliberation by a federal jury, which convicted him of insider trading.

The verdict caps the fall of the most prominent figure caught in the government's drive to stop the leaking of corporate secrets to Wall Street.

The U.S. said Mr. Gupta, 63 years old, once one of America's most-respected corporate directors, was motivated not by quick profits but rather a lifestyle where inside tips are the currency of friendships and elite business relationships.

Gupta, who is also a former head of McKinsey & Co., faces up to 20 years in prison on each of the fraud charges and up to five years for the conspiracy charge.

But his sentence is likely to be significantly lower under federal guidelines.

Sentencing is set for Oct. 18.



http://online.wsj.com/article/SB10001424052702303822204577468470878668722.html

so if his appeals do not keep him out of prison, he will likely die in prison - not a bad thing considering what he did

 

[RockX]

LOL

Another Obama donor goes down in flames

Gupta was once a guest at the White House.

Gupta's list of achievements is long. A guest of the White House at President Obama's first state dinner held for the visiting Prime Minister of India, Gupta is one of India's most high-profile immigrants.

He came to the Harvard Business School in 1971 and joined the blue-chip consulting firm McKinsey right after graduation. Gupta became McKinsey's first non-Western head when he became worldwide managing director of the firm from 1994 to 2003.​

He's lavished money on Democrats for years. Rajaratnam was even more generous with Obama, as well as with Hillary Clinton. It's quite amazing how many of her fatcat fundraisers have wound up in prison or under indictment. Rajaratnam donated over $30,000 to Obama in 2008. Gupta also showered money upon former Connecticut Senator Chris Dodd, who instead of facing charges for his role in the Fannie Mae/Freddie Mac/Countrywide scandals has landed a cushy, high-profile lobbyist gig.

 

[Guns Guns Guns]

So RacistX admits the Obama administration doesn't play favorites with past political donors?