A former Goldman Sachs director was found guilty Friday of feeding confidential information to a corrupt hedge fund manager, becoming the most prominent defendant convicted so far.
Rajat Gupta – born in India, educated at Harvard and well-known in corporate America – was convicted by a jury of conspiracy and three counts of securities fraud, and acquitted of two other securities fraud counts. The trial of the 63-year-old Gupta, and the one last year for former billionaire Raj Rajaratnam, showed how the two friends and Wall Street titans navigated the 2008 economic meltdown.
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