Rajat Gupta's fate set to be sealed in US court

October 24, 2012 17:32

Former Goldman Sachs director Rajat Gupta is set to be sentenced by a US judge here on insider trading charges, a year after the Indian-American Wall Street honcho 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 later this evening 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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