A former Goldman Sachs and Procter & Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace for a man who retained support from prominent business and civic leaders even after he was convicted of feeding inside information to a billionaire hedge fund owner.
Rajat Gupta, 63, of Westport, Conn., learned his fate from U.S. District Court Judge Jed Rakoff, who defended his leniency, blasting federal sentencing guidelines that called for Gupta to serve at least 6 years behind bars. He also ordered him to pay a $5 million fine.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.