INSIDER TRADING

  • SEBI approves new insider trading rules November 19, 2014

    Mumbai: The Securities and Exchange Board of India (SEBI) on Wednesday approved new insider trading rules that will replace a two-decade old law seen as inadequate to curb trading violations. The new rules, which are based on recommendations that were first revealed late last year, broaden the scope of who can...
  • Man who ate napkins to conceal insider trading pleads guilty September 21, 2014

    A Brooklyn, New York mortgage broker, who would scribble secret stock tips on napkins and pass them to an accomplice in Grand Central station before eating them, pleaded guilty to insider trading on Friday, federal prosecutors said. Frank Tamayo, 41, was the middleman in what prosecutors called a threeman scheme that...
  • ExMicrosoft employee gets 2 years in prison for insider trades August 10, 2014

    Seattle: A former Microsoft Corp employee was sentenced to two years in prison for his part in an insider trading scheme that netted him and his partner more than $400,000. Brian Jorgenson, 32, had pleaded guilty to securities fraud for his part in a sophisticated operation in which he passed private...
  • 2 IndianAmerican doctors charged in insider trading scheme April 26, 2014

    New York: Two IndianAmerican doctors among six persons have been charged by federal regulator in an insider trading scheme where they reaped nearly USD 300,000 from confidential information. Suken Shah and his brother Shimul Shah received confidential tips from Christopher Saridakis, the CEO of the ecommerce company about its proposed...
  • Insider trading: US court upholds Rajat Gupta's conviction March 26, 2014

    New York: A former Goldman Sachs and Procter & Gamble board member was fairly convicted on charges that he fed lucrative inside tips to a billionaire hedge fund owner, a federal appeals court said on Tuesday. The 2nd US Circuit Court of Appeals made the ruling in the case of...
  • Goldman exdirector Rajat Gupta paying $13.9 mn civil fine July 18, 2013

    Washington: The former Goldman Sachs board member convicted of insider trading is paying $13.9 million to settle related civil charges of feeding inside information to his friend, a billionaire hedge fund boss. The Securities and Exchange Commission announced the fine on Wednesday against Rajat Gupta, who was also permanently barred from...
  • US court studies wiretaps in Rajat Gupta insider case May 22, 2013

    New York: Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta sought to reverse his insidertrading conviction on Tuesday, arguing that wiretap evidence used by the prosecution should not have been introduced at trial. Defense lawyer Seth Waxman told the 2nd US Circuit Court of Appeals in New York...
  • Rajat Gupta to appeal against insider trading conviction May 21, 2013

    New York: Indiaborn former Goldman Sachs director Rajat Gupta will seek overturning of his insidertrading conviction in a US court today by arguing that the case rested exclusively on circumstantial evidence that relied on wiretap statements that did not involve him. The US Court of Appeals for the Second Circuit...
  • US: Indiaborn Attorney Preet Bharara in spotlight April 3, 2013

    New York: Manhattan US Attorney Preet Bharara has proven adept with the media, landing on the cover of Time magazine and being named the latest "Sheriff of Wall Street" by the financial press. The chief federal prosecutor for the Southern District of New York was back in the limelight on...
  • Raj Rajaratnam brother charged with insider trading March 22, 2013

    New York: Raj Rajaratnam's younger brother was indicted on charges of conspiring in the insider-trading scheme for which the founder of the Galleon Group hedge fund was convicted nearly two years ago, US prosecutors announced on Thursday. Prosecutors said Rengan Rajaratnam, 42, conspired with his older brother to trade on non-public...
  • Rajat Gupta ordered to pay $6.22 million to Goldman Sachs February 26, 2013

    A federal judge on Monday ordered former Goldman Sachs Group Inc director Rajat Gupta to reimburse $6.22 million to help the Wall Street bank cover its legal expenses related to his criminal insider trading case. Goldman had sought to recover $6.91 million, and US District Judge Jed Rakoff in Manhattan said...
  • Rajat Gupta may win his appeal but I think his reputation is tarnished forever: Sandipan Deb February 25, 2013

    A tragedy of Greek proportions, this is the story of an Indian icon at the centre of the biggest insider trading case in the history of the United States of America. On 24 October 2012, Rajat Gupta, former head of the worlds most respected management consultancy firm, McKinsey & Co.,...
  • Insider trading: Rajat Gupta seeks conviction reversal January 23, 2013

    New York: Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta are urging a federal appeals court to reverse his insider trading conviction, arguing that a judge shouldn't have allowed wiretaps to be heard at trial. In a brief filed on Friday at the 2nd US Circuit Court of...
  • Insider trading: Rajat Gupta to stay free on bail, says court December 5, 2012

    New York: Former Goldman Sachs Group Inc board member Rajat Gupta can remain free on bail while he appeals his insidertrading conviction, an appeals court ruled on Tuesday. Gupta had been scheduled to surrender on January 8 to start a twoyear prison sentence. But after hearing arguments from Gupta's lawyer and...
  • US court to hear Rajat Gupta's plea to delay surrender November 29, 2012

    New York: A US court has agreed to hear next week a bid by Indiaborn former Goldman Sachs Director Rajat Gupta to delay his surrender to federal prison and remain free on bail while he challenges his conviction on insidertrading charges. The Court of Appeals for the Second Circuit in...
  • Rajat Gupta asked to pay $15 million as penalty November 16, 2012

    New York: The US government has asked a court in New York to slap a maximum penalty of $15 million on Indiaborn fallen Wall Street titan Rajat Gupta and permanently bar him from serving as director of any publiclytraded firm for his "terrible breach of trust" by indulging in insider...
  • World View: Has Rajat Gupta been given an unfair sentence? October 26, 2012

    This week on World View with Suhasini Haidar we take a detailed look at the Rajat Gupta sentencing, 10day countdown to US Elections:, highlights of 3rd ObamaRomney debate. ...
  • Rahul Bajaj happy about lenient sentence to Rajat Gupta October 25, 2012

    Mumbai: Industrialist Rahul Bajaj on Thursday welcomed the relatively lenient twoyear jail term which a US court awarded to former McKinsey head Rajat Gupta for insider trading. "Under the American law, there was no way his request for community service without going to jail (would have been accepted). We knew...
  • The Last Word: Has justice been done to Rajat Gupta? October 25, 2012

    Rajat Gupta, a former Goldman Sachs and Procter & Gamble Company board member, was sentenced on Wednesday to two years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend. ...
  • Insider trading: Rajat Gupta regrets damage to reputation October 25, 2012

    New York: It's a fall from grace for a man who had built himself a reputation as a humanitarian. Fallen Wall Street tycoon Rajat Gupta was sentenced to two years in prison on Thursday and a five million dollar fine was imposed for securities fraud and insider trading, the judge,...
  • Rajat Gupta a good man: Judge before sentencing October 25, 2012

    New York: US District Court Judge Jed Rakoff, who sentenced Rajat Gupta, the former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts, to two years in prison and also ordered him to pay a $5 million fine, on multiple occasions gave...
  • I have lost my reputation: Rajat Gupta October 25, 2012

    Rajat Gupta, 63, of Westport, Conn., was sentenced by US District Court Judge Jed Rakoff, who also ordered him to pay a $5 million fine. ...
  • The rise and fall of Wall Street poster boy Rajat Gupta October 25, 2012

    A former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts was sentenced on Wednesday to 2 years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend. ...
  • US: Rajat Gupta awaits sentence in insider case October 24, 2012

    New York: The sentencing on Wednesday of fallen Wall Street titan Rajat Gupta for insider trading could come down to whether a judge agrees that his lifetime of charity counts against sending him to prison. The former Goldman Sachs Group Inc (GS.N) board member was convicted in June of leaking boardroom...
  • Former Goldman Sachs Director Rajat Gupta to be sentenced today October 24, 2012

    Former Goldman Sachs director Rajat Gupta will be sentenced in New York on Wednesday by a US judge on insider trading charges. ...
  • Rajat Gupta's fate to be sealed on Wednesday October 23, 2012

    New York: Former Goldman Sachs director Rajat Gupta will be sentenced in New York on Wednesday by a US judge on insider trading charges a year after the IndianAmerican Wall Street executive was charged with passing boardroom secrets to the now imprisoned hedge fund founder Raj Rajaratnam. The Prosecution has sought...
  • US seeks up to 10 years in prison for Rajat Gupta October 18, 2012

    New York: Former Goldman Sachs Group Inc board member Rajat Gupta deserves to spend eight to 10 years in prison for his "shocking" insidertrading crimes, US prosecutors said in court papers on Wednesday. Gupta, who is also a former head of management consultancy McKinsey & Co, is set to be...
  • US: Gupta seeks probation on insider trading charges October 18, 2012

    New York: Goldman Sachs' Indiaborn former director Rajat Gupta is seeking a sentence of probation accompanied by "rigorous" community service, according to court documents submitted by his lawyer a week before a federal judge here sentences him on his conviction on insider trading charges. In a 99page sentencing memorandum submitted in...
  • Rajat Gupta gets sentencing support from Gates, Annan October 13, 2012

    New York: Bill Gates and Kofi Annan are among several prominent businessmen and humanitarians asking a US judge to show fairness when he sentences former Goldman Sachs Group Inc board member Rajat Gupta for his insider trading conviction later in October. Gupta, 63, the most influential and bestknown corporate figure to...
  • US: Intel's Indiaborn exMD spared jail term September 25, 2012

    New York: Intel Corp's Indiaborn former MD Rajiv Goel, who was charged with giving inside corporate information to Raj Rajaratnam, has been spared jail time as he turned government witness and helped nail the Galleon founder in America's biggest insider trading scandal. Goel, 54, apologised and said he was "deeply ashamed"...