Arab Today, arab today exgoldman director jailed
Last Updated : GMT 03:18:08
Arab Today, arab today
Arab Today, arab today

Ex-Goldman director jailed

Arab Today, arab today

Arab Today, arab today Ex-Goldman director jailed

New York - AFP

Former Goldman Sachs board member Rajat Gupta, a pillar of the New York financial establishment, was sentenced to two years in jail and fined $5 million for insider trading Wednesday. US District Judge Jed Rakoff gave a much more lenient sentence than the 10-year stretch requested by government prosecutors, although he rejected a defense request for a community service sentence. Gupta, who was ordered to turn himself in on December 11, was solemn, but showed no emotion as he heard his fate. Rakoff said Gupta, a major philanthropist who has been a leader in fighting malaria in Africa and in helping disadvantaged youths, \"deserves credit.\" The Manhattan federal judge noted that several jurors cried as they delivered their guilty verdict \"because they recognized this was a person with some very good attributes.\" But he added that America\'s senior executives committing insider trading \"must be made to understand that when you get caught, you will go to jail.\" Rakoff said Gupta\'s feeding of secret business information about Goldman Sachs to his friend, the now imprisoned hedge fund tycoon Raj Rajaratnam, at the height of the 2008 Wall Street financial crisis was \"disgusting\" and the \"equivalent of stabbing Goldman in the back.\" The corrosive effect of insider trading, Rakoff said, \"is to place in jeopardy the value of the marketplace, which is one of the most valuable assets the country possesses.\" For the prosecution, Manhattan US Attorney Preet Bharara was equally harsh. \"With today\'s sentence, Rajat Gupta now must face the grave consequences of his crime -- a term of imprisonment. His conduct has forever tarnished a once-sterling reputation that took years to cultivate,\" Bharara said. \"We hope that others who might consider breaking the securities laws will heed this sad occasion and choose not to follow in Mr Gupta\'s footsteps.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exgoldman director jailed Arab Today, arab today exgoldman director jailed

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday