Feds Land Big Insider Trading Conviction With Rajat Gupta
A federal crackdown on illicit trading on Wall Street netted its latest catch with the conviction of Rajat Gupta, a business insider and former board member of Goldman Sachs Group Inc., Reuters reports.
Gupta was convicted Friday on charges that he leaked confidential information about Goldman Sachs during the peak of the economic crisis.
He faces up to 25 years in prison after being found guilty of four criminal counts, according to Reuters.
The case is the latest victory by the U.S. Attorney’s Office in Manhattan, which has launched an aggressive campaign to bust insider trading.
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