Rajat Gupta's fate to be decided on Wednesday

October 23, 2012 20:02

Former Goldman Sachs director Rajat Gupta will be sentenced on Wednesday by a US judge on insider trading charges, a year after the Indian-American Wall Street executive was charged with passing boardroom secrets to the now imprisoned hedge fund founder Raj Rajaratnam.

The prosecution has sought a prison term of 8-10 years for the 63-year-old Gupta, who was convicted by a jury in June this year in a closely followed trial on three counts of securities fraud and one count of conspiracy.

His sentencing by US District Judge Jed Rakoff comes exactly a year after Manhattan's top federal attorney India-born Preet Bharara filed insider trading charges against the former McKinsey head.

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