Rajat Gupta, a consummate business insider who once sat on the board of Goldman Sachs Group Inc, was convicted on Friday of leaking secrets about the investment bank at the height of the financial crisis, a major victory for prosecutors seeking to root out illicit trading on Wall Street.
A Manhattan federal court jury delivered the verdict on its second day of deliberations, finding Gupta fed stock tips to his hedge fund manager friend Raj Rajaratnam gleaned from confidential Goldman board meetings. He was found guilty of four of six criminal counts and could face a prison term of up to 25 years.
The conviction burnishes the record of the U.S. Attorney's Office in Manhattan, which has spent the last several years aggressively prosecuting insider trading. More than 60 people have pleaded guilty or been convicted in cases brought by the FBI and the Manhattan U.S. Attorney in the past four years.
Eight backcountry skiers have been found dead and one remains missing after an avalanche near Lake...
Six backcountry skiers were stranded and 10 others were missing on Tuesday, Feb. 17, after an...
Construction on the nation’s largest infrastructure project can resume after a court ordered the Trump administration...
The Rev. Jesse L. Jackson, a protege of the Rev. Martin Luther King Jr. and two-time...
