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Former Goldman Sachs Director Rajat Gupta Found Guilty on Four Counts of Insider Trading

Politics / Market Regulation Jun 15, 2012 - 09:26 AM GMT

By: Jesse

Politics

Jury deliberated only two days, finding Gupta guilty on four counts of insider trading, and innocent of two counts.

This was clearly a case of failing to maintain GPS coordinates when burying the bodies for your masters, and failing to provide sufficient campaign donations to the plutocracy.


The pampered princes have thrown another one of their Immortals to the wolves.

So Lloyd has given up one of his thralls, and a whale sized proxy at that. But nonetheless still prey whose moment had come.

Who will take the axe for Jon Corzine and Jamie Dimon?

Key Takeaway: Unless you are a made member of the Billionaire Boys Club, too big to jail, and not merely a faithful servant, take the deal...

Daily Word: Anagnorisis (an·ag·no·ri·sis) from the Greek anagnōrizein to recognize

the point in the plot, especially a tragedy, at which the protagonist recognizes their or some other character's true identity and motivation, or discovers the true nature of their own situation

From Bloomberg:

"Gupta, 63, was found guilty of securities fraud and conspiracy by a federal jury in Manhattan today in its second day of deliberations. The trial began May 21. Securities fraud carries a maximum prison sentence of twenty years. Conspiracy carries a five-year maximum prison sentence. He will remain free on bail until his sentencing on Oct. 18...

Gupta is the most prominent of those convicted at trial or to plead guilty since the nationwide crackdown began in October 2009. To date, the U.S. has brought cases against 66 traders and their sources from Wall Street to Silicon Valley. No one has won an acquittal; six cases are pending.

Besides his tenure at Goldman Sachs and McKinsey, which he ran from 1994 to 2003, the Kolkata-born Gupta served on the boards of the Rockefeller Foundation and the Bill & Melinda Gates Foundation. He is also a co-founder of the Indian School of Business in Hyderabad."

By Jesse

http://jessescrossroadscafe.blogspot.com

Welcome to Jesse's Café Américain - These are personal observations about the economy and the markets. In plewis

roviding information, we hope this allows you to make your own decisions in an informed manner, even if it is from learning by our mistakes, which are many.

© 2012 Copyright  Jesse's Café Américain - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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