{"id":36842,"date":"2013-07-18T12:08:47","date_gmt":"2013-07-18T16:08:47","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36842"},"modified":"2013-07-18T12:18:54","modified_gmt":"2013-07-18T16:18:54","slug":"rajat-gupta-fined-13-9-billion-in-hedge-fund-insider-trading-conviction","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/rajat-gupta-fined-13-9-billion-in-hedge-fund-insider-trading-conviction.html","title":{"rendered":"Rajat Gupta Fined $13.9 Million In Hedge Fund Insider Trading Conviction"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/rajat.gupta_.top_.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-22549\" alt=\"rajat.gupta_.top_\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/rajat.gupta_.top_-300x226.jpg\" width=\"300\" height=\"226\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/rajat.gupta_.top_-300x226.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/rajat.gupta_.top_.jpg 354w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; \u00a0Rajat Gupta, a former member of the Board of Directors at Goldman Sachs, has\u00a0been fined $13.9 million to settle related civil charges of feeding inside information to his friends.<\/p>\n<p>He was accused of conspiracy and securities fraud crimes stemming from his involvement in an insider trading scheme with his business partner and friend, Raj Rajaratnam, the founder and former head of the Galleon Group hedge fund.<\/p>\n<p>Gupta received a prison\u00a0sentence of 2 years in federal prison. Gupta was found guilty on June 18th 2012 by a jury in Manhattan federal court.<\/p>\n<p>The SEC says that from 2007 through January 2009, Gupta repeatedly disclosed material, non-public information (\u201cinside information\u201d) that he acquired in his capacity as a member of the Board of Directors of Goldman Sachs, with the understanding that Rajaratnam would use the inside information to purchase and sell securities. Rajaratnam, in turn, caused the execution of transactions in the securities of Goldman Sachs on the basis of the inside information and shared the inside information with others at Galleon, thereby earning illegal profits, and illegally avoiding losses, of millions of dollars. On separate occasions that were proven at trial, Gupta gave Rajaratnam inside information that included highly sensitive and secret information.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; \u00a0Rajat Gupta, a former member of the Board of Directors at Goldman Sachs, has\u00a0been fined $13.9 million to settle related civil charges of feeding inside information to his friends. He was accused of conspiracy and securities [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-36842","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36842"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36842\/revisions"}],"predecessor-version":[{"id":36844,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36842\/revisions\/36844"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}