Ex-Goldman director's bid to avoid jail fails

Rajat Gupta

Rajat Gupta, the former Goldman Sachs director found guilty of insider trading, must report to prison next week after a U.S. Supreme Court justice rejected a last-ditch request.

Bloomberg News reports that Justice Ruth Bader Ginsburg, making no comment, today refused to let Gupta remain free on bail while he appeals his conviction. Gupta is scheduled to surrender to prison authorities on June 17 to begin a two-year sentence.

Gupta, who is also a former McKinsey & Co. managing partner, is the highest-profile executive convicted in a U.S. crackdown on insider trading at hedge funds. He was found guilty in 2012 of passing illegal tips to billionaire Galleon Group LLC co-founder Raj Rajaratnam.

Gupta argued in papers filed with the court this week that there’s no risk he will flee and that he’s likely to win his appeal based on legal errors made in his case.

To access the complete Bloomberg News article hit the link below:

Rajat Gupta Rejected at U.S. High Court as Prison Looms

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