SEC Fines Gupta $14M For Passing Secrets To Rajaratnam

Law360, New York (July 17, 2013, 6:57 PM EDT) -- Convicted former Goldman Sachs Group Inc. director Rajat Gupta has been ordered to pay a $13.9 million civil penalty for illegally leaking corporate secrets to hedge fund founder Raj Rajaratnam, the U.S. Securities and Exchange Commission said Wednesday.

U.S. District Judge Jed S. Rakoff of the Southern District of New York handed down the fine and also banned Gupta for life from serving as an officer or director of a public company, according to the commission. In October, Gupta was sentenced to two years in prison...
To view the full article, register now.

Related

Sections

Case Information

Case Title

United States Securities and Exchange Commission v. Gupta et al


Case Number

1:11-cv-07566

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Jed S. Rakoff

Date Filed

October 26, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.