Former Goldman Sachs Group, Inc. And Procter & Gamble Co. Board Member Rajat Gupta, Gets 2 Yrs Prison For Insider Trading

GUPTA

"...GUPTA repeatedly disclosed material, nonpublic information (“Inside Information”) that he acquired in his capacity as a member of the Board of Directors of Goldman Sachs with the understanding that Rajaratnam would use the Inside Information to purchase and sell securities. Rajaratnam, in turn, caused the execution of transactions in the securities of Goldman Sachs on the basis of the Inside Information, and shared it with others at Galleon, thereby earning illegal profits, and illegally avoiding losses, of millions of dollars..." MORE ...