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Ex-Goldman Sachs director Rajat Gupta guilty of fraud | Ex-Goldman Sachs director Rajat Gupta guilty of fraud |
(about 4 hours later) | |
A former Goldman Sachs board member has been found guilty of four criminal counts of insider trading by a federal court in New York. | A former Goldman Sachs board member has been found guilty of four criminal counts of insider trading by a federal court in New York. |
Rajat Gupta, 63, denied illegally leaking boardroom secrets to Raj Rajaratnam, a former hedge fund manager now serving 11 years in prison. | Rajat Gupta, 63, denied illegally leaking boardroom secrets to Raj Rajaratnam, a former hedge fund manager now serving 11 years in prison. |
The jury acquitted Gupta, a former managing partner of consulting giant McKinsey & Co, of two other charges. | The jury acquitted Gupta, a former managing partner of consulting giant McKinsey & Co, of two other charges. |
Gupta could face up to 20 years in jail when he is sentenced on 18 October. | Gupta could face up to 20 years in jail when he is sentenced on 18 October. |