Ex-Goldman director fails in attempt to avoid prison

Rajat Gupta, a former director at the Goldman Sachs who was convicted on insider trading charges, has lost a last-minute attempt to stay out of prison.

The New York Times reports that a federal appellate court in New York on Friday rejected Gupta’s attempt to remain free on bail while he seeks to appeal his 2012 conviction to the United States Supreme Court. Gupta, 65, is now set to surrender to the federal Bureau of Prisons on June 17 and begin serving a two-year prison sentence.

Gupta, also a former managing director of the consulting firm McKinsey & Company, is the most prominent corporate official to be convicted in the federal government’s multiyear crackdown on insider trading in the hedge fund industry.

To access the complete New York Post article hit the link below:

Rajat Gupta Loses Bid to Avoid Prison During Appeal 

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