Rajat Gupta Seeks to Avoid Prison With Supreme Court Plea
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Rajat Gupta, the former Goldman Sachs Group Inc. director found guilty of insider trading in 2012, asked the U.S. Supreme Court to allow him to remain free on bail so he doesn’t have to report to prison next week.
Gupta, who is also a former McKinsey & Co. managing partner, is the highest-profile executive convicted in a U.S. crackdown on insider trading at hedge funds. He was found guilty of passing illegal tips to the billionaire Galleon Group LLC co-founder, Raj Rajaratnam. Gupta is scheduled to surrender to prison authorities on June 17 to begin a two-year sentence.