Rajat Gupta Gets Two-Year Sentence for Insider Trading

Rajat Gupta, the former Goldman Sachs Group Inc. (GS) director and McKinsey & Co. managing director who rose to the pinnacle of Wall Street, was sentenced to two years in prison for passing inside tips to his business partner….

Rakoff ordered Gupta to report to prison on Jan. 8 and fined him $5 million, rejecting a bid to allow him to remain free pending appeal. The judge said he would recommend to U.S. Bureau of Prisons officials that Gupta serve his term at the federal prison in Otisville, New York.

via Rajat Gupta Gets Two-Year Sentence for Insider Trading – Businessweek