In the end, billionaire Steven Cohen, one of the most successful hedge-fund managers of his generation, could end up getting banned from the business he dominated for an error of omission, not commission.
Rajat Gupta, the former Goldman Sachs Group Inc. director found guilty of passing confidential tips to billionaire hedge-fund manager Raj Rajaratnam, was ordered to pay $13.9 million in a related U.S. regulatory case.
Rajat Gupta , the former Goldman Sachs Group Inc. director accused of passing tips to Galleon Group LLC co-founder Raj Rajaratnam, will remain silent as his insider-trading trial enters its final week, his lawyer told the judge.
Rajat Gupta, the former Goldman Sachs Group Inc. director, will probably testify next week at his insider-trading trial, his lawyer told the judge after the prosecution rested and the defense began presenting its case.
Rajat Gupta “abused” his role as a director at Goldman Sachs Group Inc. and Procter & Gamble Co. by leaking secret tips to an associate, a prosecutor told the jury during closing arguments in Gupta’s insider-trading trial.
Rajat Gupta, who was a director at Goldman Sachs Group Inc., “threw away his duties” to the company when he tipped hedge-fund co-founder Raj Rajaratnam to news that the bank would get a $5 billion investment, a prosecutor told jurors.
Rajat Gupta, the ex-Goldman Sachs Group Inc. director accused of giving inside information to fund manager Raj Rajaratnam about that company and Procter & Gamble Co., may face additional allegations he passed tips, prosecutors said.
As a lawyer, Jed Rakoff once persuaded a judge to give probation to a client convicted at an insider-trading trial alongside former Wall Street Journal reporter R. Foster Winans. Now a federal judge himself, Rakoff must weigh Rajat Gupta’s similar request to stay out of prison.
Rajat Gupta, the former Goldman Sachs Group Inc. director and McKinsey & Co. managing director who rose to the pinnacle of Wall Street, was sentenced to two years in prison for passing inside tips to his business partner.