Gupta Seeks Goldman Justification, RBS Said Looking At $564m LIBOR Penalty

Rajat Gupta

Former Goldman board director Rajat Gupta said Friday that the firm hasn't justified its request for nearly $7m in legal fees and other expenses it claims were spent in connection with his insider-trading case.

The Wall Street Journal reports that Gupta, 64, was convicted earlier this year of sharing corporate secrets he learned as a Goldman board member with hedge-fund manager Raj Rajaratnam, his friend and business associate. Gupta was sentenced to two years in prison in October and is appealing his conviction.

In the meantime, Reuters reports that Royal Bank of Scotland is braced for a penalty of more than $564m for its role in a global interest rate rigging scandal, the Sunday Times newspaper reported, without citing sources.

Rajat Gupta Says Goldman Hasn't Justified $7 Million Fee Request (subscriber content)

RBS close to 350 million pound Libor settlement - paper

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