United States v. Gupta
United States District Court for the Southern District of New York
904 F. Supp. 2d 349 (2012)
Facts
Rajat K. Gupta (defendant) was privy to nonpublic financial information about Goldman Sachs. Before the confidential information became public, Gupta disclosed the information to Raj Rajaratnam, a securities trader who bought and sold shares of Goldman Sachs using Gupta’s stock tips and thereby received illegal gains. The United States government brought criminal charges against Gupta related to insider trading. A jury found Gupta guilty of conspiracy and securities fraud. Prior to the crimes, Gupta had a successful professional career and a history of charitable work. Gupta’s reputation suffered as a result of the crimes. The district court was asked to decide Gupta’s punishment.
Rule of Law
Issue
Holding and Reasoning (Rakoff, J.)
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