NYT,etc - Mr. Ragat Gupta, former CEO of McKinsey and Company and past Board Member of Goldman Sachs, was found guilty and convicted June 15, 2012 for securities fraud and conspiracy. It's another "victory" for federal prosecuting attorney Bharara in Judge Jed S, Rakoff''s court room. Attorney Bharara has successfully charged 66 executives and traders in the past 3 years on insider trading crimes, with 60 of them pleading or found guilty. "The government wants to protect investors, sending the message that the stock market is a level playing field and not a rigged game favoring Wall Street professionals" states the NYTimes.
Mr. Gupta is from Kolkata, India and per the Times article was "an orphan who earned an engineering degree and came to the United States to attend the Harvard Business School on a scholarship. The global world has been stunned by the charges against Mr. Gupta". Sentencing has been set for October but an appeal is likely.
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