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.”
Advertisements

Lohan charged with leaving scene of NYC accident – Yahoo! omg!

Lindsay Lohan Arrested again for Hit and Run-Nader_Nazemi

Lindsay Lohan Arrested again for Hit and Run-Nader_Nazemi

Not again. lol

NEW YORK (AP) — Lindsay Lohan was arrested in New York early Wednesday on charges that she clipped a pedestrian with her car and did not stop, police said.The 26-year-old actress was arrested at 2:25 a.m. as she left a nightclub at the Dream Hotel on 16th Street in Manhattan\’s Chelsea neighborhood, police said. They said no alcohol was involved.Lohan was charged with leaving the scene of an accident and causing injury. She was given a ticket and will have to appear in court at a later date.

via Lohan charged with leaving scene of NYC accident – Yahoo! omg!.

See zombies invade Manhattan in ‘Walking Dead’ viral video – Yahoo! TV

See zombies invade Manhattan in ‘Walking Dead’ viral video – Yahoo! TV.

Hilarious stuff. What would people do in an actual Zombie Apocalypse ? Well, although such a scenario would never happen but most people would fail miserably. 

Nader Nazemi,The Walking Dead, Experiment, NYC, New York City,Nader Nazemi

The Walking Dead Zombies Invade New York City

All you “Walking Dead” fans out there probably feel pretty confident you could handle a zombie apocalypse. But how would you really react if you witnessed actual in-the-rotting-flesh walkers hobbling through the streets of your town? You’d probably scream and run away, if this “Walking Dead” promo clip is any indication. 

AMC teamed up with viral marketing agency Thinkmodo to unleash a horde of supremely gross zombies (expertly created by makeup artist Sue Lee) on the streets of Manhattan, dressing them up as paramedics and mailmen and filming bystanders’ reactions to the undead invasion. And the clip has been a huge success, racking up more than 2.5 million views in less than a week. Thinkmodo co-founder Michael Krivicka gives us the inside scoop on the shoot: “We shot this video over the course of eight days in various parts of Manhattan with 13 different zombie characters. The challenge was to keep the zombies hidden and have them pop up at the right moment to scare people and crowds.”

Galleon Official Is Spared Prison – NYTimes.com

Galleon Official Is Spared Prison – NYTimes.com.

nader nazemi

Raj Rajaratnam

This should just be the beginning and there should be more convictions coming up. Wall Street has been running wild with crazy money schemes and fraud for a long time now. There should be a concerted effort to clean up house, although, the truth is that Wall Street is in cahoots with the feds and through the feds revolving door nothing will ever be sorted out. In the end it is the tax payer bailing out the Mega-Banks.

Adam Smith, a former portfolio manager at the Galleon Group hedge fund who provided the government with crucial assistance in prosecuting his onetime boss, Raj Rajaratnam, avoided prison on Tuesday when a judge sentenced him to two years’ probation.

Judge Jed S. Rakoff, who sentenced Mr. Smith in Federal District Court in Manhattan, said he spared Mr. Smith because of his “very substantial” aid to prosecutors. He added that cooperation in insider trading cases should be rewarded because the crime, in many instances, can be so difficult to detect.
“He has done everything one could reasonably ask to make amends,” Judge Rakoff said.

Victory Spurs Speculation on Bharara’s Next Move – NYTimes.com

Victory Spurs Speculation on Bharara’s Next Move – NYTimes.com.

With the conviction of Rajat K. Gupta, the United States attorney in Manhattan,Preet Bharara, has now secured the biggest scalp yet in the government’s broad campaign against insider trading on Wall Street.

Rajat Gupta Convicted of Insider Trading – NYTimes.com

Rajat Gupta Convicted of Insider Trading – NYTimes.com.

Nader Nazemi


Rajat K. Gupta, the retired head of the consulting firm McKinsey & Company and a former Goldman Sachs board member, was found guilty on Friday of conspiracy and securities fraud. He is the most prominent business executive convicted in a wave of prosecutions that followed the government’s sweeping investigation into insider trading on Wall Street. 

Nader Nazemi
Preet S. Bharara, the United States attorney in Manhattan.

“Having fallen from respected insider to convicted inside trader, Mr. Gupta has now exchanged the lofty board room for the prospect of a lowly jail cell,” Preet Bharara, the United States attorney in Manhattan said in a statement.

Kodak Concedes Difficulty in Drawing Lead Bidder for Patents – NYTimes.com

Kodak Concedes Difficulty in Drawing Lead Bidder for Patents –NYTimes.com.

The logo from 1987 to 2006. "Evolution of...

The logo from 1987 to 2006. “Evolution of our brand logo”. Eastman Kodak . . Retrieved 2007-09-26 . (Photo credit: Wikipedia)

Eastman Kodak late on Monday sought to set up a confidential auction for its portfolios of over 1,100 patents, after the bankrupt film pioneer acknowledged it had encountered difficulty drawing a lead bidder.

The concession is likely to raise questions again about whether the 132-year-old company will be able to pull off the linchpin of its reorganization plan: selling off some of its most valuable intellectual property to raise money for its turnaround effort.

Kodak filed for bankruptcy in January after years of failed efforts to turn itself around by finding a new direction, most recently by becoming a digital printing company.

In a court filing made in bankruptcy court in Manhattan, Kodak said it was having difficulty in drawing in a “stalking horse” bidder, blaming what it said was a reluctance by potential buyers to disclose their identities or their bids. Stalking-horse bids establish a floor for offers, and give potential buyers added protections.

Instead, Kodak is seeking to allow bidders to remain confidential, disclosing only the winning buyer and price in a so-called naked auction.

“Interest in competitive bidding for the digital imaging patent assets has been chilled by potential purchasers’ reluctance to act as a ‘stalking horse’ bidder in a conventional, public auction,” lawyers for the company wrote in the filing.

The company said in a statement on Monday that 20 potential bidders had signed confidentiality agreements and been given access to sensitive data.

To defend its decision, Kodak cited the example of Nortel Networks, the Canadian telecommunications equipment maker that sold off a similarly huge collection of patents. Its stalking-horse bidder was Google, which bid $900 million. But the winning bid came from a collection of rival technology companies — a diverse group that included AppleMicrosoft and Research in Motion — that paid $4.5 billion.

Here is what Kodak lawyers wrote in the filing: