Gupta Ordered to Pay $13.9 Million in Inside-Trading Case
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Rajat Gupta, the former Goldman Sachs Group Inc. director found guilty of passing confidential tips to billionaire hedge-fund manager Raj Rajaratnam, was ordered to pay $13.9 million in a related U.S. regulatory case.
Gupta, 64, managing partner of McKinsey & Co. from 1994 to 2003, was convicted last year. He was permanently barred from acting as an officer or director of a public company and from associating with any broker or investment adviser, the Securities and Exchange Commission said yesterday, citing an order by U.S. District Judge Jed Rakoff in Manhattan.