LIVE! Insider trader Rajat Gupta begins 2-year jail term today
June 17, 2014  12:53
India-born former Goldman Sachs Director Rajat Gupta will today report to a prison in Massachusetts to begin his two-year sentence for insider trading, after having fought an over three-year long legal battle with all his might to clear his name.

65-year-old Gupta, once regarded as among the most powerful and influential in corporate America, will serve his jail term at a minimum security satellite camp of the Federal Medical Center-Devens in Ayer, Massachusetts.

Incidentally Gupta's camp, which currently has 132 inmates, is next to the medical centre where his one-time friend and business associate hedge fund founder Raj Rajaratnam is serving his 11-year prison sentence for running a massive insider trading scheme.

Gupta was convicted in 2012 after a jury trial of passing confidential information about Goldman Sachs to Rajaratnam minutes after he learned about them at the board meetings.

The IIT-Delhi and Harvard alumnus is expected to arrive at the prison facility before noon after which he will undergo routine medical tests, an information officer at the prison told PTI over phone.

The medical tests will take a day to be completed, following which Gupta will be lodged in the satellite camp.

According to initial information available on the facility's website, Gupta has been described as a 65-year-old "Asian, male." According to the camp's rules, Gupta will be able to receive family and friends on Saturdays, Sundays and federal holidays between 8:30 am to 3:00 pm while on Fridays between 2:30 pm and 8:30 pm.
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