Law360, New York (May 18, 2012, 10:45 PM ET) -- Raj Rajaratnam and Rajat Gupta — two friends, one a hedge fund founder, the other a Goldman Sachs Group Inc. board member, both caught talking on an FBI wiretap about a confidential board meeting. Rajaratnam famously got 11 years in prison for insider trading.
That sentence, accompanied by more than $150 million in criminal and civil penalties, was the longest ever for an insider trader, and a substantial win for federal prosecutors in their crackdown on Wall Street misdeeds.
Now Gupta, who dodged an initial U.S....
Gupta Trial Promises To Be Different Ballgame Than Raj
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