Disgraced Wall Street Fat Cat Rajat Gupta Gets Off Easy

7/30/2019 Disgraced Wall Street Fat Cat Rajat Gupta Gets Off Easy

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Oct. 25, 2012

This is one time where money walks and bullspit talks.

Disgraced Wall Street fat cat Rajat Gupta was facing 8-10 years in prison for his role in feeding

insider trading information to now jailed former Galleon Group hedge fund manager RajRajaratnam nicknamed Hedge Hog which earned Rajaratnam up to $75 million illegally.Gupta testified at Rajaratnam s trial and as a result, Rajaratnam got 11 years in the slammer.

However, after Gupta was found guilty- he was convicted of three counts of securities fraud andone count of conspiracy - Gupta got an amazingly light sentence only two years, with anadditional $5 million fine - peanuts compared to what Gupta earned crookedly in the past severalyears.

This sentence was passed down by U.S. District Court Judge Jed Rakoff, after prosecutors told

the judge that Guptabelonged behind bars anywhere from eight to 10 years because he showedabove-the- law arrogance while feeding Rajaratnam inside tips between March 2007 and

January 2009, sometimes within seconds of learning the information.

However, Judge Rakoff (which rhymes with J***off) said the guidelines were too tough, and hegave Rupta a slight slap on the wrist.

Whats even more amazing is that Guptas lawyers were arguing for no jail time at all, sinceRupta had been doing charitable work in Rwanda.

RWANDA!!

Who the flip cares?

One hedge fund) cheat (Rajaratnam) gets 11 years in jail, and the man who fed him the insideinformation (Rupta) gets only 2 years behind bars.

Maybe this is the way justice works in Rwanda, but it s not the way justice should work in theUnited States of America.

Judge Rakoff are you listening?

http://www.nydailynews.com/new-york/wall-st-fat-cat-2-years-article-1.1191342
http://www.nydailynews.com/new-york/wall-st-fat-cat-2-years-article-1.1191342http://www.nydailynews.com/new-york/wall-st-fat-cat-2-years-article-1.1191342http://www.nydailynews.com/new-york/wall-st-fat-cat-2-years-article-1.1191342


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Wall Street fat cat gets two years in prison for role in biggest insider trading case in U.S.

history

Rajat Gupta sentenced for feeding information to 'Hedge Hog' Rajaratnam

BY DENIS SLATTERY AND CORKY SIEMASZKO / NEW YORK DAILY NEWS

WEDNESDAY, OCTOBER 24, 2012, 4:34 PM

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MICHAEL SCHWARTZ /FOR NEW YORK DAILY NEWS

Rajat Gupta (c) with his attorneys walks to Federal Court for sentencing on insider tradingcharges.
http://www.nydailynews.com/authors?author=Denis%20Slatteryhttp://www.nydailynews.com/authors?author=Denis%20Slatteryhttp://www.nydailynews.com/authors?author=Denis%20Slatteryhttp://www.nydailynews.com/authors?author=Corky%20Siemaszkohttp://www.nydailynews.com/authors?author=Corky%20Siemaszkohttp://www.nydailynews.com/authors?author=Corky%20Siemaszkohttp://www.nydailynews.com/authors?author=Corky%20Siemaszkohttp://www.nydailynews.com/authors?author=Denis%20Slattery


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JEFFERSON SIEGEL

Rajat Gupta arrives at Manhattan Federal Court.

The Wall Street fat cat who fed inside information to the infamous Hedge Hog is going toprison not Rwanda.

Rajat Gupta, who had pleaded to be allowed to pay for his crimes by doing charity work in theAfrican country, was sentenced Wednesday to two years behind bars and a $5 million fine in thebiggest insider trading case in U.S. history.

With todays sentence, Rajat Gupta now must face the grave consequence s of his crime a termof imprisonment, said U.S. Attorney Preet Bharara.

His conduct has forever tarnished a once -sterling reputation that took years to cultivate. Wehope that others who might consider breaking the securities laws will take heed from this sadoccasion and choose not to follow in Mr. Guptas footsteps.

The ex-Goldman Sachs director was convicted of feeding info to now-jailed hedge fund managerRaj Rajaratnam nicknamed Hedge Hog that earned him up to $75 million illegally.

Gupta, 63, of Westport, Conn., was the highest-ranking executive ensnared in a four-yearinvestigation of his billionaire buddy, who headed the corrupt Galleon Group and was busted inOctober 2009 and is now serving 11 years in prison.

Prosecutors argued that Gupta belonged behind bars anywhere from eight to 10 years because heshowed above-the- law arrogance while feeding Rajaratnam inside tips between March 2007and January 2009, sometimes within seconds of learning the information.

They said Rajaratnam used the inside dope to make millions in illegal profits for him and hisinvestors.

Guptas crimes are extraordinarily serious and damaging to the capital markets, thegovernment wrote. It understandably fuels cynicism among the investing public that Wall St reetis rigged and that Wall Street professionals unfairly exploit privileged access to information.


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Guptas defenders argued that jailing him would be a disservice to humanity and asked that he beallowed to continue doing the AIDS and anti-poverty work hes done for years in Rwanda.

The conduct for which he was convicted represents an isolated aberration and a stark departurefrom this personal history, his lawyers wrote.

They also cited Guptas efforts to help development in his native India and produ ced more than400 letters written on his behalf, including documents signed by Microsoft co-founder Bill Gatesand former United Nations Secretary-General Kofi Annan.

[email protected]

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Disgraced Wall Street Fat Cat Rajat Gupta Gets Off Easy