Rajat Gupta's sentencing date on Oct 17

August 28, 2012 15:10

The sentencing of former Indian-American Goldman Sachs director Rajat Gupta, convicted of passing confidential market information to Galleon hedge fund founder Raj Rajaratnam in one of America's biggest insider trading cases, has been preponed by a day to October 17.

US District Judge Jed Rakoff had set as October 18 the date for sentencing Gupta after the ex-McKinsey head was found guilty by a jury here of passing confidential company information to Rajaratnam.

Gupta, 63, was found guilty on three counts of securities fraud and one count of conspiracy in June. He faces up to 20 years in prison for his conviction on securities fraud while the conspiracy fraud carries a maximum term of five years.

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