Former Goldman Sachs director Rajat Gupta in custody

[dipsydoodle]

Source: BBC News

A former director at investment bank Goldman Sachs has been taken into custody on charges relating to a hedge fund insider trading case.

Rajat Gupta, 62, is accused of providing illegal information to hedge fund manager Raj Rajaratnam.

Mr Rajaratnam was sentenced to 11 years in jail for insider trading earlier this month.

Civil fraud charges were brought against Mr Gupta by the US Securities and Exchange Commissioner in March.

Read more: http://www.bbc.co.uk/news/world-us-canada-15466038

[Tippy]

1. K&R...It's happening

[Lint Head]

2. Their country of origin has nothing to do with their crimes

but it is an unusual coincidence they are both not the typical image of an American white collar criminal. I think this demonstrates how global the economic crisis is.

[iandhr]

5. Greed cuts across...

.... race and religion

[JI7]

12. how are they not typical of it ? if you mean their race , there are a lot of south asians

in this industry now. more than before because of immigration. but i'm sure education/economic background is similar to the white men involved in these crimes before.

[Warpy]

3. Good. Let's hope he's the first of many and that he rolls over on his buddies

in order to get a slap on the wrist and 18 months in Club Fed.

Of course, that's all the white collar criminals ever get, so it probably won't happen.

Look like a member of the ruling class and destroy the lives of millions, a slap on the wrist. Be an out of work working class slob and knock over a liquor store and you're in the can until you're an old man.

[Firebrand Gary]

4. K&R All the bastards need to go to prison.

If there is not enough room, let the drug "offenders" out, the general public is much more sympathetic to a pot head in comparison to a white collar dirt bag who upped themselves by stealing from old ladies.

[russspeakeasy]

6. This just confirms that OWS is right and justified...

[hue]

7. fill the prisons and keep em coming! no lunches on weekends, no "special

treatment or privileges."

[sarcasmo]

8. Two greedy parasites in jail, a few thousand more there would be justice.

[lovuian]

9. Finally someone in jail

Goldman Sacs

[eppur_se_muova]

10. Ex-Goldman Sachs director Rajat Gupta on fraud charges

Source: BBC

A former director at investment bank Goldman Sachs has pleaded not guilty to charges of securities fraud relating to a hedge fund insider trading case.

Charged with five counts of fraud and one count of conspiracy, Rajat Gupta, 62, has been released on $10m (£6.3m) bail and had his passport seized.

The prosecution said the corporate veteran was the "illegal eyes and ears" of hedge fund trader Raj Rajaratnam.

Rajaratnam was sentenced to 11 years in jail for insider trading in October.


Read more: http://www.bbc.co.uk/news/world-us-canada-15466038

[Name removed]

11. Deleted message

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[lindysalsagal]

13. www.bloomberg.com calls it "tragic"

http://www.businessweek.com/magazine/content/11_17/b4225045209024.htm

That oughtta tell you how they feel about getting caught cheating.

"Tragic" that he made this deal and got caught.

I'm sobbing, really.