Wall Street Criminal Rajat Gupta Convicted

Photo: World Economic Forum (CC)

A symbolic strike for the good guys, for once, as ex-Goldman Sachs bankster Raj Gupta is convicted of insider trading. For an explanation of why Wall Street is a crime scene check out this week’s Disinfo Deal: Danny Schecter’s Plunder: The Crime of our Time. Report from the Los Angeles Times:

A jury has convicted former Goldman Sachs director Rajat Gupta in his high-profile insider-trading case in New York.

A federal jury had been weighing Gupta’s fate for two days. The jury of eight women and four men found Gupta guilty of four criminal counts in a wide government push against insider trading. Gupta was found guilty of three counts of securities fraud and one count of conspiracy for leaking stock tips to Raj Rajaratnam, head of the Galleon Group hedge fund. He was acquitted on two counts of securities fraud.

Each fraud charge carries a sentence of up to 20 years in prison; the conspiracy charge could result in up to five years. Gupta will be sentenced on Oct. 18. Gupta, 63, was the highest-profile defendant to face federal charges in a wide-ranging insider-trading scheme headed by Raj Rajaratnam.

Rajaratnam was found guilty last year and sentenced to 11 years in prison…

[continues in the Los Angeles Times]


Majestic is gadfly emeritus.

Latest posts by majestic (see all)

8 Comments on "Wall Street Criminal Rajat Gupta Convicted"

  1. “symbolic strike for the good guys, for once”

    simpleton mob mentality 

    Raj Gupta’s crime was a crime whose impact was felt 99% by multi-billionaires. A bad guy was prosecuted and convicted by other bad guys. Gupta’s conviction neither harmed nor benefited you.   Justice here was delivered as part of a closed system – ruled in titular fashion by actors named Obama and Romney – to which you’re not party. You’re not even part of the equation. 

  2. jon201011 | Jun 15, 2012 at 5:25 pm |

    Angela responded I’m startled that a stay at home mom able to earn $5790 in one
    month on the internet. did you see this webpage MorePay3

  3. a couple of hundred white guys
    WASPs of the old boy network
    raped & pillaged the world financial system
    but thank god they caught this dark skinned dude
    can Jamie Diamond be next?
    NO! he’s white

    who made up that Jamie Diamond name anyway
    if he was a woman
    people would think he was hooker or sumtin

  4. jon201011 | Jun 16, 2012 at 12:39 pm |

    just as Thomas explained I cannot believe that any body
    can make $7051 in one month on the internet. did you read this page MorePay3

  5. I have read that based on information Gupta delivered to 
    Raj Rajaratnam, he immediately bought stocks and packed $1 mil in 5 minutes. USA is country of milk and honey! Hoooorraaaaayyy! Those guys coming from India are getting richer and richer, everybody else is going broke. Recession? For who?

Comments are closed.