Ex-Goldman director Gupta gets two-year prison sentence – Yahoo! News

Ex-Goldman director Gupta gets two-year prison sentence – Yahoo! News.

Former Goldman Sachs Group Inc board member Rajat Gupta-nader-nazemi

Former Goldman Sachs Group Inc board member Rajat Gupta

Don’t do the crime, if you can’t do the time. Just because he gave charity, does it mean that he should get a break from the law. Two years is loo light a sentence. This once again shows that so called white-collar crime goes under-punished.

NEW YORK (Reuters) – Disgraced Wall Street titan and philanthropist Rajat Gupta was sentenced to only two years in prison, a much lighter sentence than U.S. prosecutors had demanded, even though the federal judge who imposed it on Wednesday called his insider trading crimes “disgusting” and “a terrible breach of trust.”

Gupta was also ordered to pay a $5 million fine. He was convicted in Manhattan federal court last June for leakingGoldman Sachs boardroom secrets to Raj Rajaratnam, the hedge fund manager at the center of a U.S. government crackdown on insider trading over the past four years.
Some legal experts said the sentence came as a surprise, while others said the judge struck a fine balance.
U.S. District Judge Jed Rakoff told a somber courtroom audience, including Gupta’s wife and four adult daughters, that the illegal sharing of corporate secrets at the height of the 2008 financial crisis “was the functional equivalent of stabbing Goldman in the back.”
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