Rather sad moment for immigrant community especially since Rajat Gupta was probably the first Indian CEO of any major US company.
Read Here - http://finance.yahoo.com/news/ex-goldman-director-gupta-sentenced-011822149.html
I wonder though that such behavior must be common on wall street. Doesn't make it acceptable though.
Important distinction is that he was convicted for providing insider information, not for insider trading. Still a criminal offense, but one that saddens me more for his stupidity than his greed.
He got off easy with 2 years of minimum security and $5 mil, should hv been atleast 5-8 years and 10 mil. Rajaratnam got 11 years and he was running an hedge fund unlike a Board member who is more accountable for corporate governance.
any amount of philanthropy would not substitute brazen disregard to corporate laws.
Cold blooded white collar crime, period.
Quote:
Originally Posted by qesehmk