Former Goldman director Gupta fined, banned in SEC case...

[Indi Guy]

Source: REUTERS

Former Goldman Sachs Group Inc. director Rajat Gupta was ordered to pay a $13.9 million civil penalty and banned from serving as an officer or director of a public company for having illegally passed corporate secrets to former hedge fund manager Raj Rajaratnam, a top U.S. regulator said on Wednesday.

The U.S. Securities and Exchange Commission said the order was issued earlier in the day by U.S. District Judge Jed Rakoff in Manhattan, who also oversaw Gupta's related criminal trial.

Gupta, 64, is appealing his June 2012 conviction and two-year prison term for having fed confidential tips he learned at Goldman board meetings in the second half of 2008 to Rajaratnam, a former billionaire who ran Galleon Group.

The tips included news about Goldman's financial results and a crucial $5 billion investment during the financial crisis by Warren Buffett's Berkshire Hathaway Inc...

Read more: http://www.reuters.com/article/2013/07/17/us-sec-gupta-idUSBRE96G1B820130717

[99th_Monkey]

1. Bam!!! Finally!! But wait ...

but no criminal charges? hmmm. It says that Gupta "illegally passed corporate secrets to..."

[Lasher]

2. Criminal conviction in June 2012

Now this is the civil case against him.

[99th_Monkey]

5. Hush my mouth

good to know, thank you.

[zentrum]

3. 13.9 million....

...is nothing to a guy this wealthy.

[JI7]

10. i read he has about 85 million and that's only what is reported

[hatrack]

4. Wake me up when someone from Goldman goes to jail

Until such time, BFD.

[99th_Monkey]

6. "Criminal conviction in June 2012. Now this is the civil case against him.

or so "Lasher" claims, above in post #2.

[Lasher]

7. Yup, I have it on good authority.

Word has it, Gupta is currently appealing his June 2012 conviction and two-year prison term.

[99th_Monkey]

8. Is he in the slammer, like Manning? or out on bail, spending his ill-gotten gains ...

to pay for hookers and endless "legal appeals" until everyone forgets all about it?

[Lasher]

9. Gupta remains free during his appeal.

But former hedge fund manager Raj Rajaratnam is serving an 11-year prison term.

[tammywammy]

11. This is resultant from the Galleon Group.

There's a lot of information about the insider trading and convections if you look it up.