Gupta Should Pay $15M In Insider Trading Case, SEC Says

Law360, New York (November 15, 2012, 5:58 PM EST) -- The U.S. Securities and Exchange Commission said Wednesday that former Goldman Sachs Group Inc. director Rajat Gupta, who was sentenced to two years in prison as part of a federal crackdown on insider trading, should pay the maximum civil penalty of $15 million.

The SEC said that Gupta's criminal conviction — for tipping hedge fund founder Raj Rajaratnam about billionaire investor Warren Buffett's plan to invest $5 billion in Goldman Sachs as it faced troubles during the 2008 financial crisis and its poor financial performance that...
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