Perspective
Nov. 9, 2012
Lenient insider trading sentence scrutinized
Two weeks ago, a judge sentenced Rajat Gupta to two years in prison and a $5 million fine for insider trading. By Michael W. Emmick
Two weeks ago, U.S. District Judge Jed Rakoff sentenced Rajat Gupta to two years in prison and a $5 million fine for insider trading. Gupta had been on the board of directors of Goldman Sachs, and the media had portrayed him as "the biggest scalp" in the federal government's recent clamp-down on insider trading.
Legal commentators immediately criticized the sentence as too lenient. After all, the U.S. Sentencing Guide...
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